Standard & Poor’s raised its rating for Allianz SE to "AA"

Standard & Poor’s (S&P) yesterday raised its long-term counterparty credit and insurer financial strength ratings on Allianz SE and various core entities from "AA-" to "AA". This consequentially lead to a raise of ratings on various strategically important insurance subsidiaries of Allianz from "A+" to "AA-". The rating agency affirmed its "A-1+" short-term ratings on Allianz SE and various core operating subsidiaries. The outlook on all Allianz entities remains stable.

"We are very pleased about the upgrade of S&P. It acknowledges the positive changes which lead to profitable growth of Allianz Group over the past years, the efforts of management and employees as well as the companies long-term strategy", commented Helmut Perlet, board member and CFO of Allianz SE.