A.M. Best Removes From Under Review and Affirms Ratings of Generali and Its Main Subsidiaries; Assigns Negative Outlook
Business Wire, Inc. |
In
A.M. Best’s rating actions on
Upward rating movement is unlikely at this point.
Negative rating actions could occur if there were a worsening of risk-adjusted capitalisation tied to investment losses or a deterioration of the operating environment in key territories.
The FSR of A (Excellent) and issuer credit rating of “a” has been removed from under review and affirmed with a negative outlook for Assicurazioni Generali S.p.A. and its following subsidiaries:
- Generali Deutschland Holding AG
- AachenMünchener
Lebensversicherung AG - AachenMünchener
Versicherung AG Generali Lebensversicherung AG Generali Versicherung AG COSMOS Lebensversicherungs-AG - COSMOS Versicherung Aktiengesellschaft
- Central Krankenversicherung Aktiengesellschaft
Generali Vie Generali IARD
The issuer credit rating of “bbb” of
The following debt ratings have been removed from under review and affirmed with a negative outlook.
Assicurazioni Generali S.p.A.—
-- “a-”on
-- “a-” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
-- “a-” on
-- “a-” on
-- “bbb+” on
-- “bbb+” on
-- “bbb+” on
The following indicative ratings on securities available under the
Assicurazioni Generali S.p.A. and Generali Finance B.V.—
-- “a-” on all senior notes to be issued under the programme
-- “bbb+” on all subordinated and hybrid notes to be issued under the programme
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. Key criteria utilised include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding Universal BCAR”; “Understanding BCAR for Property/Casualty Insurers”; “Rating Members of Insurance Groups”; “Natural Catastrophe Stress Test Methodology”; “Assessing Country Risk ”; and “Insurance Holding Company and Debt Ratings”. 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
A.M. Best
Copyright © 2012 by A.M. Best Company, Inc.ALL RIGHTS RESERVED.
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Copyright: | Copyright Business Wire 2012 |
Wordcount: | 1082 |
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