A.M. Best Comments on Ratings of Allianz Global Corporate & Specialty AG Business Wire LONDON -- November 19, 2013 A.M. Best Europe – Rating Services Limited has commented that the financial strength rating of A+ (Superior) and issuer credit rating of “aa-” of Allianz Global Corporate & Specialty AG (AGCS AG) (Germany) are unchanged following the announcement that AGCS AG has adopted the new legal structure of Societas Europaea and simultaneously merged with its subsidiary, Allianz Global Corporate & Specialty (France) S.A. (AGCS France), retroactive to 1 January 2013. The new company is named Allianz Global Corporate & Specialty SE (AGCS SE). A.M. Best believes that the stand-alone credit profile of AGCS SE will remain unchanged, with the company expected to maintain its strong risk-adjusted capitalisation. The conversion is aimed at optimising the group’s capital base and simplifying its organisational structure. The business profile should not be affected as AGCS France’s business will be written directly by AGCS SE going forward. AGCS SE is a wholly owned subsidiary of Allianz SE. The ratings continue to benefit from enhancement reflecting the material contribution of AGCS SE to Allianz SE’s overall business profile and earnings. The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology. In accordance with Regulation (EC) No. 1060/2009, the following is a link to required disclosures: A.M. Best Europe - Rating Services Limited Supplementary Disclosure. A.M. Best Europe – Rating Services Limited is a subsidiary of A.M. Best Company. A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED. Contact: A.M. Best Company Charlotte Vigier Senior Financial Analyst +(44) 20 7626 6264 firstname.lastname@example.org or Anandi Nangy Kotecha Senior Director +(44) 20 7626 6264 email@example.com or Rachelle Morrow Senior Manager, Public Relations +(1) 908 439 2200, ext. 5378 firstname.lastname@example.org or Jim Peavy Assistant Vice President, Public Relations +(1) 908 439 2200, ext. 5644 email@example.com
A.M. Best Comments on Ratings of Allianz Global Corporate & Specialty AG
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