Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Allianz SE

Research Update: Global Multiline Insurer Allianz SE Affirmed At 'AA/A-1+' After Downgrade Of Italy; Outlook Stable

Published Dec 11, 2014

About This Report

Abstract:

On Dec. 5, 2014, we lowered our ratings on the Republic of Italy to 'BBB-/A-3' from 'BBB/A-2'. We consider that Germany-based global multiline insurer Allianz SE continues to bear significant exposure to Italian government bonds. Although we view this as a risk to our ratings on Allianz, we still think the group's capital adequacy provides a substantial buffer to absorb the risk linked to this exposure. We are therefore affirming our 'AA/A-1+' ratings on Allianz SE and its 'AA' rated core subsidiaries, and our 'AA-' ratings on its highly strategic subsidiaries. The stable outlook reflects our view that the group's capital adequacy will remain in the 'AA' range and earnings will be consistent with our base case. On Dec. 11,

Report Type:

Research Update

Ticker

ALV@GR

Issuer

Allianz SE

GICS

Multi-line Insurance (40301030)

Sector

Global Issuers, Public Finance, Structured Finance

Country

Germany

Region

United States

Format:

PDF

Allianz SE – 2014/12/22 – US$ 500.00

Summary: Allianz SE – 2014/12/22 – US$ 225.00

Germany-Based Global Multiline Insurance Group Allianz SE's Dated Subordinated Notes Rated 'A+' – 2015/03/31 – US$ 150.00

Allianz SE – 2015/12/28 – US$ 500.00

Summary: Allianz SE – 2015/12/28 – US$ 225.00

Global Multiline Insurer Allianz SE Affirmed At 'AA/A-1+' After Downgrade Of Italy; Outlook Stable – 2014/12/11 – US$ 150.00

Bulletin: German Insurance Group Allianz SE Ratings Unaffected By Recent Management Change At PIMCO – 2014/10/01 – Free

German Insurer Allianz SE's Undated Junior Subordinated Notes Rated 'A+' – 2014/09/17 – US$ 150.00

Summary: Allianz SE – 2013/11/04 – US$ 225.00

Allianz SE – 2013/11/04 – US$ 500.00

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author

Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Global Multiline Insurer Allianz SE Affirmed At 'AA/A-1+' After Downgrade Of Italy; Outlook Stable" Dec 11, 2014. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Global-Multiline-Insurer-Allianz-SE-Affirmed-At-AA-A-1-After-Downgrade-Of-Italy-Outlook-Stable-1374438>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Global Multiline Insurer Allianz SE Affirmed At 'AA/A-1+' After Downgrade Of Italy; Outlook Stable Dec 11, 2014. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Global-Multiline-Insurer-Allianz-SE-Affirmed-At-AA-A-1-After-Downgrade-Of-Italy-Outlook-Stable-1374438>

US$ 225.00

$ £ €

Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

Example Report

Click to View Sample Report

More Research

Search all our Residential Mortgage-Backed Securities from one place.