Research Update: Allianz Outlook Revised To Negative On Pressured Capitalization; 'AA' Ratings Affirmed Jan 12
Standard & Poors, January 2012
Abstract
Financial market developments in the second half of 2011 and increased credit risk in the eurozone have weakened Allianz group's risk-adjusted capital adequacy to a level close to our minimum expectations for the current rating. We are revising the outlook on Allianz SE, its related core subsidiaries, and several strategically important subsidiaries to negative to reflect the risk of further pressure on their capitalization. We are removing the ratings from CreditWatch, where they were placed with negative implications on Dec. 9, 2011. We are affirming the 'AA/A-1+' long- and short-term counterparty credit and insurer financial strength ratings on Allianz SE and its related core entities as well as the 'AA-' ratings on several strategically important subsidiaries on the basis of...
Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch
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Product Type: Research Update
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- Allianz SE
- 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.
- Euler Hermes American Credit Indemnity Co.
- AGCS Marine Insurance Co.
- AGF - Assurances Generales de France CASH (SNC)
- Allianz Versicherungs AG
- Allianz Australia Insurance Ltd.
- Allianz Global Corporate & Specialty (France)
- Allianz Insurance PLC
- AGA International S.A.
- Allianz Suisse Versicherungs - Gesellschaft
- Allianz Global Corporate & Specialty AG
- Euler Hermes Kreditversicherungs-AG
- Allianz SpA
- Allianz Nederland Schadeverzekering N.V.
- Allianz Elementar Versicherungs - AG
- Allianz Lebensversicherungs Aktiengesellschaft
- Allianz Private Krankenversicherungs - AG
- Allianz Elementar Lebensversicherungs AG
- Allianz Suisse Lebenversicherungs - Gesellschaft
- Allianz Risk Transfer AG
- Euler Hermes SFAC
- Euler Hermes Europe
- London Verzekeringen N.V.
- Allianz Nederland Levensverzekering N.V.
- Allianz Risk Transfer (Bermuda) Ltd.
- Allianz Risk Transfer N.V.
- Allianz Finance Corp.
- Allianz Finance II B.V.
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