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BULLETIN: Allianz AG Ratings Unaffected by Strong Second-Quarter 2004 Results Aug 04
Standard & Poors, Aug 2004
Abstract
FRANKFURT (Standard & Poor's) Aug. 16, 2004--Standard & Poor's Ratings Services said today that the ratings and outlook on Germany-based Allianz AG (AZAG; AA-/Negative/A-1+) and its related entities (collectively Allianz Group) remain unchanged following AZAG's report of strong second-quarter 2004 results, which are generally in line with Standard & Poor's expectations. Standard & Poor's recognizes the positive trend in profitability, but believes that there remains some execution risk in fully implementing the group's '3+one program', particularly in extracting the full value of its bancassurance model. Standard and Poor's will also continue to closely monitor the sustainability of the upward trend in earnings. Specifically, Standard & Poor's expects Allianz group to achieve a combined ratio in both 2004 and 2005 of...
Companies mentioned in this report are: Allianz SE,Dresdner Bank AG
Action: Bulletin
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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