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Allianz Australia Insurance Ltd. Jan 02
Standard & Poors, Jan 2002
Abstract
The 'A-' insurer financial strength and counterparty credit ratings on Allianz Australia Insurance Ltd. (Allianz Australia) reflect the group's sound business profile, improved operational control, adequate capital profile, and operating results that have improved to a satisfactory level. Allianz Australia also is viewed as a strategically important subsidiary of the Allianz AG group (AA+/Stable/A-1+), which moved to 100% ownership in December 1998. Allianz Australia's sound business franchise stems from a leadership position in liability lines, strong shares in niche segments of marine pleasure craft and retail motor products sold through car dealers, and a sound share of corporate and commercial markets. The portfolio includes a significant amount of business sourced since Allianz Australia acquired the renewal rights to a book...
Action: Review
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: Full Analysis
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