Allianz Worldwide Care S.A. has welcomed today's designation of a financial strength rating of A+ (Superior) and an issuer credit rating of "aa-" by A.M. Best. The outlook assigned to both ratings is stable. A.M. Best is one of the oldest and most authoritative insurance rating and information sources.
The ratings are based on a number of key deciding factors, including Allianz Worldwide Care's excellent operating performance, strong risk-adjusted capitalisation and sound risk management framework. A.M. Best's rating also reflects Allianz Worldwide Care's strategic importance to its ultimate parent company, Allianz SE.
The positive ratings also highlight A.M. Best's view that Allianz Worldwide Care is expected to report premium growth of approximately 10% per annum in the medium term. This is supported by growth in new business opportunities, as well as the development of its existing portfolio through an enhanced client offering and digital solutions.
The ratings agency also believes that as the life and health insurance provider of Allianz Worldwide Partners, Allianz Worldwide Care will play an instrumental role in the expansion plans for the wider group.