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AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "a+" (Excellent) of Assicurazioni Generali S.p.A. (Generali) (Italy)
'Germany Life Insurance- Key Trends and Opportunities to 2024' report provides in-depth market analysis, information and insights into Germany's life insurance segment. Key insights and dynamics of Germany's life insurance segment. A comprehensive overview of Germany's economy, government initiatives and investment opportunities. Germany's insurance.
Generali Deutschland Versicherung AG
Generali Deutschland Lebensversicherung AG
The following Long-Term IRs have been affirmed with a stable outlook:
Assicurazioni Generali S.p.A.
“a” on EUR 1,750 million 5.125% senior unsecured notes, due 2024
“a-” on EUR 1,250 million 5.5% fixed/floating rate senior dated subordinated notes, due 2047 (callable in 2027)
“a-” on EUR 850 million 5% fixed/floating rate senior dated subordinated notes, due 2048 (callable in 2028)
“a-” on EUR 1,000 million 4.125% fixed rate senior dated subordinated notes, due 2026
“a-” on EUR 1,250 million 7.75% fixed/floating rate senior subordinated notes, due 2042 (callable in 2022) (of which EUR 467 million remains outstanding)
“a-” on EUR 750 million 10.125% fixed/floating rate senior subordinated notes, due 2042 (callable in 2022) (of which EUR 302 million remains outstanding)
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AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of a+ of Assicurazioni Generali S.p.A. (Generali) (Italy) and its main rated subsidiaries. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IRs) of debt instruments issued or guaranteed by Generali. The outlook of the Credit Ratings (ratings) is stable.
The ratings reflect Generali s balance sheet strength, which AM Best categorises as strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management.
Generali s balance sheet strength is underpinned by risk-adjusted capitalization that is considered to be at the strongest level, as measured by Best s Capital Adequacy Ratio (BCAR). The group had a regulatory solvency ratio of 203% as at 30 September 2020 (YE 2019: 224%). Offsetting factors in the assessment include the group s significant exposure to I