Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

AM Best Affirms Credit Ratings of Allianz Mexico, S.A., Compania de Seguros.

Document Cited in Related
Vincent

ENPNewswire-October 11, 2021--AM Best Affirms Credit Ratings of Allianz Mexico, S.A., Compania de Seguros

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 09102021 - AM Best has affirmed the Financial Strength Rating of A+ (Superior), the Long-Term Issuer Credit Rating of 'aa' (Superior), and the Mexico National Scale Rating of 'aaa.MX' (Exceptional) of Allianz Mexico, S.A., Compania de Seguros (Allianz Mexico) (Mexico City, Mexico).

The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect Allianz Mexico's strategic importance as a subsidiary of Allianz SE (Allianz), which on a consolidated basis has a balance sheet strength that AM Best assesses as strongest, as well as strong operating performance, very favorable business profile and very strong enterprise risk management.

Allianz is one of the world's largest insurance groups, with superior diversification by geography and business line, and leading positions in many developed and emerging markets, offering a complete range of life and non-life insurance products, as well as asset management services. Its competitive position is supported by its scale, strong management capabilities, dynamic strategy and strong brand.

Allianz Mexico specializes in offering insurance coverages across a broad spectrum of categories in life, property/casualty and accident and health. It is focused solely on Mexico's market, and the insurance portfolio, as of December 2020, was composed of life (53%), property/casualty (32%) and accident and health (15%). The company manages life administration funds in its life business segment, consisting mainly of investment and savings products.

Allianz Mexico forms part of the IberoLatAm division of Allianz, and is identified by the group as one of the key regions of future insurance growth outside its core European markets. Allianz Mexico also is integrated in all core processes of the group, as well as in the ongoing strategic initiatives.

Operating performance is characterized by consistently positive bottom-line results, derived from the company's well-diversified business portfolio, and...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT