Research Update: Allianz 'AA/A-1+' Affirmed On Solid Insurance And Asset-Management Business; Outlook Stable Jul 08

  • ID: 1885714
  • July 2008
  • Standard & Poors
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  • Allianz Finance Corp.
  • Allianz France
  • Allianz SE
  • Allianz Versicherungs AG
  • Dresdner Bank AG
  • HT1 Funding GmbH
  • MORE

On July 29, 2008, Standard & Poor's Ratings Services affirmed its 'AA' long-term counterparty credit and insurer financial strength ratings on Germany-based Allianz SE (AZSE) and various core operating entities. At the same time, Standard & Poor's affirmed its 'A-1+' short-term ratings on AZSE and various core operating subsidiaries. The outlook on all entities is stable. The affirmation reflects the Allianz group's global franchise, with leading positions in major markets, very strong operating performance in its insurance and asset-management activities, and very strong financial flexibility. Repeated setbacks at Allianz's banking subsidiary, Dresdner Bank AG (Dresdner; A/Negative/A-1), the bank's significantly weakened earnings prospects, and the resulting pressure to reduce the group's banking exposure, are offsetting factors. AZSE boasts a highly diversified...

Action: Affirmed
Action: Outlook: Stable

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- Allianz SE
- Dresdner Bank AG
- Dresdner U.S. Finance Inc.
- Allianz Vie
- Allianz IARD
- Allianz France
- Allianz Life Insurance Co. of North America
- Allianz Life Insurance Co. of New York
- Allianz Global Risks U.S. Insurance Co.
- Allianz Underwriters Insurance Co.
- AGF - Assurances Generales de France CASH (SNC)
- Allianz Versicherungs AG
- Allianz Global Corporate & Specialty (France)
- Allianz Global Corporate & Specialty SE
- Allianz SpA
- Allianz Elementar Versicherungs - AG
- Allianz Lebensversicherungs Aktiengesellschaft
- Allianz Private Krankenversicherungs - AG
- Allianz Elementar Lebensversicherungs AG
- Dresdner Funding Trust I
- Allianz Finance II B.V.
- Allianz Finance Corp.
- HT1 Funding GmbH
- UT2 Funding PLC

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