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Bulletin: Allianz 2019 Underwriting Is At The Lower End Of Our Expectations, But Risk-Based Capital Should Remain Very Strong

Published Feb 21, 2020

2 pages (1126 words) — Published Feb 21, 2020

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Abstract:

FRANKFURT (S&P Global Ratings) Feb. 21, 2020--S&P Global Ratings today said that although Allianz's 2019 underwriting performance was toward the lower end of S&P Global Ratings' expectation, it expects Allianz will maintain its risk-based capital above the 'AA' level. This is a key element of our 'AA' long-term ratings and stable outlook on Allianz SE. Allianz reported its full-year 2019 results today, with a combined ratio of 95.5%, at the upper end of our expectation of 94%-96%, and weaker than the 94% reported for 2018. The weaker underwriting result was mainly a result of reserve strengthening in Allianz's core subsidiary Allianz Global Corporate&Specialty SE (AGCS; AA/Stable/--) of €0.6 billion. The group's operating result increased to €11.9 billion, in

Report Type:

Bulletin

Ticker

ALV@GR

Issuer

Allianz SE

GICS

Multi-line Insurance (40301030)

Sector

Global Issuers, Structured Finance

Country

Germany

Region

United States

Format:

PDF

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Allianz 2019 Underwriting Is At The Lower End Of Our Expectations, But Risk-Based Capital Should Remain Very Strong" Feb 21, 2020. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Allianz-2019-Underwriting-Is-At-The-Lower-End-Of-Our-Expectations-But-Risk-Based-Capital-Should-Remain-Very-Strong-2386359>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Allianz 2019 Underwriting Is At The Lower End Of Our Expectations, But Risk-Based Capital Should Remain Very Strong Feb 21, 2020. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Allianz-2019-Underwriting-Is-At-The-Lower-End-Of-Our-Expectations-But-Risk-Based-Capital-Should-Remain-Very-Strong-2386359>

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