Bulletin: Ratings On Allianz Fire And Marine Insurance Japan Unaffected By CreditWatch Placement Of Parent Allianz SE Dec 11

Standard & Poors, December 2011

Abstract
TOKYO (Standard & Poor's) Dec. 12, 2011--Standard & Poor's Ratings Services said today that its ratings on Allianz Fire And Marine Insurance Japan Ltd. (AZFM; AA-/Negative/--) are unaffected by the placement of the insurer's German-based parent, Allianz SE (AZSE; AA/Watch Neg/A-1+), on CreditWatch with negative implications. On Dec. 9, 2011, we placed our 'AA' long-term counterparty credit and insurer financial strength ratings on AZSE and its related core entities on CreditWatch negative. However, our ratings on the Japanese subsidiary, AZFM, were excluded from the aforementioned CreditWatch placement, based on our current view that, even if we were to lower the ratings on the Allianz group, any downgrades are likely to be limited to one notch. We consider AZFM as a...

Companies mentioned in this report are: Allianz Fire and Marine Insurance Japan Ltd.
Action: Bulletin

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Research type: News
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Allianz Fire and Marine Insurance Japan Ltd.

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