AM Best Comments on Credit Ratings of Allianz Life Insurance Company of North America and Its Subsidiary Following Reinsurance Announcement
AM Best has commented that the Credit Ratings (ratings) of
The reinsurance arrangement includes 100% quota share reinsurance for a closed FIA book and a 50% quota share for an open FIA book. The reinsurance agreement also includes collateral and multiple layers of protection.
The transaction is in line with Allianz Life’s strategy to unlock value in its life insurance business, manage capital on its balance sheet and increase synergies with its asset management business. AM Best believes that Allianz Life’s reinsurance agreement with the named counterparties is a net positive. The agreement will unlock
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 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 specializing in the insurance industry. Headquartered in
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Source: AM Best
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