Research Update: Allianz 'AA' Ratings Affirmed Following Revised Capital Model Criteria; Outlook Stable

On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). Under our updated criteria, Allianz SE's (Allianz's) capital position has improved as its capital buffers now meet the risk-based capital requirements in an extreme stress scenario. In our base-case scenario, we expect Allianz's capital adequacy will remain at the 99.99% confidence level. As a result of the group's stronger capital position, we improved our assessment of Allianz's financial profile to excellent from very strong. We affirmed our 'AA/A-1+' long- and short-term issuer credit ratings and 'AA' financial strength rating on Allianz and its core subsidiaries. The stable outlook reflects our view that, over the next two years, Allianz's globally

...- On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). - Under our updated criteria, Allianz SE's (Allianz's) capital position has improved as its capital buffers now meet the risk-based capital requirements in an extreme stress scenario. In our base-case scenario, we expect Allianz's capital adequacy will remain at the 99.99% confidence level. - As a result of the group's stronger capital position, we improved our assessment of Allianz's financial profile to excellent from very strong. - We affirmed our '##/A-1+' long- and short-term issuer credit ratings and '##' financial strength rating on Allianz and its core subsidiaries. - The stable outlook reflects our view that, over the next two years, Allianz's globally diversified business profile will enable the group to generate robust and diverse earnings and sustain its excellent competitive position....

Research Update