OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to “aa” from “a” of Allianz Global Corporate & Specialty Resseguros Brasil S.A. (AGCS Re Brasil) (Brazil). The outlook of these Credit Ratings (ratings) is stable.
The rating upgrades acknowledge the full integration of AGCS Re Brasil into the Allianz Global Corporate & Specialty (AGCS) segment and wider Allianz group through common management, systems and risk management infrastructure. AGCS Re Brasil maintains sufficient standalone capitalization, enhanced by intergroup reinsurance and capital support. AGCS Re Brasil serves as the Latin America hub for the AGCS segment, which focuses on large corporate risks and specialty products. The Allianz organization maintains superior diversification geographically and by insurance products that support Allianz’s excellent business profile. The group maintains a leading competitive position in numerous developed and emerging insurance markets and offers a complete range of life and non-life insurance products.
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