Zurich-based Allianz Risk Transfer (ART) received an “AA” financial enhancement rating (FER) from S&P. The rating was the first FER issued to a European multiline insurance company. At the same time, S&P assigned an “A1+” short-term counterparty credit rating to ART.
S&P also affirmed its “AA” insurer FSR on ART and its Bermudan and Dutch guaranteed subsidiaries, Allianz Risk Transfer (Bermuda) Ltd. and Allianz Risk Transfer N.V., and its “AA” long-term counterparty credit rating on ART. The outlook is stable.
The ratings are backed by a very strong capital position, solid underwriting, and an experienced and focused management team. Partly offsetting those strengths is a rather short track record of the company, which began operations in 1997, and the immaturity of the business.
Was this article valuable?
Here are more articles you may enjoy.
How Niche Insurance Shielded Bad Bunny From Bad Weather 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
‘The Arms Race Is On’: Chubb’s Greenberg on Mythos, Middle East 
Business Interruption Claims Arising From the Middle East Conflict From This Issue
