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Allianz of America Property/Casualty Group Feb 99
Standard & Poors, Feb 1999
Abstract
The insurer financial strength ratings on the property/casualty group members of Allianz of America (AZOA) are based mainly on the strategic importance of each respective company to the ultimate parent, Allianz AG. Standard & Poor's believes these operations serve a critical role to Allianz AG in its mission to be a global commercial lines insurer. The ratings also reflect the group's superior capitalization, good business position, strong financial flexibility, and historically fair operating performance. Superior capitalization: AZOA has a very strong capitalization as measured by its Standard & Poor's capital adequacy ratio of more than 190%. The quality of capital is equally strong given the company's fairly conservative reserving posture, strong reinsurance protection, and modest financial leverage at the holding...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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