On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Criteria Insurance General: Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). Based on the new criteria, our assessment of Allianz Insurance Singapore Pte. Ltd.'s (AIS) capital and earnings position remains unchanged at the strong level We assess AIS as a strategically important subsidiary of Allianz SE, the ultimate parent. This reflects the group's long-term commitment of support to AIS. We therefore affirmed our 'A+' long-term issuer credit and long-term financial strength ratings on AIS. The stable outlook on AIS reflects our rating outlook on Allianz SE, and our view that AIS will maintain its stand-alone credit profile (SACP) and remain a strategically important subsidiary of
