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Allianz Corporate Ireland PLC Oct 07
Standard & Poors, Oct 2007
Abstract
Implied group support driven by an increased strategic role within the Irish market for the Allianz group Strong operating performance despite further market rate softening Strong capitalization Improving competitive position, benefiting from good diversification Exposure to highly competitive Irish insurance market The ratings on non-life insurer Allianz Corporate Ireland PLC (Allianz Ireland) reflect that, although Standard & Poor's Ratings Services considers the company not to be strategically important to the Allianz group (Allianz; core entities are rated AA/Stable), one notch of implied group support is factored into the ratings, reflecting the increased integration of the company within the group. The ratings also benefit from the company's strong operating performance and strong capitalization, coupled with a strong competitive position, which has...
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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