AM Best Places Credit Ratings of SanlamAllianz Re Ltd Under Review With Negative Implications

LONDON--(BUSINESS WIRE)--AM Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of ‘a-’ (Excellent) of SanlamAllianz Re Ltd (SAZ Re) (Mauritius).

The under review with negative implications status reflects an expected material accounting adjustment to SAZ Re’s balance sheet as at year-end 2024. However, the company has adopted remediation plans to cover any shortfalls and strengthen processes within its operations.

The Credit Ratings are expected to remain under review until AM Best has reviewed SAZ Re’s audited year-end 2024 financial statements, and has subsequently assessed the company’s credit rating fundamentals.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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