One of Australia's largest multiline insurers with strong market positions across personal and commercial P&C insurance. AAI's underlying earnings profile is sound, benefiting from a well-developed suite of brands. Solid capital adequacy buffer. P&C operations are materially exposed to natural peril events. Forms part of a broader group that comprises entities with weaker credit quality. Our 'A+' insurer financial strength and issuer credit ratings on AAI Ltd. (AAI) reflect the company's solid underlying earnings from a range of market-leading brands across Australia's property and casualty (P&C) sector. Solid capital adequacy, a relatively low risk investment portfolio, and well-developed reinsurance arrangements are also supportive of the credit profile. The final credit rating is one notch below the stand-alone credit strength of
