Generali, AM Best upgrades rating Long–Term ICR to ‘a+’ and affirms the FSR of A (Excellent)
10 January 2019
Outlooks are stable
Trieste - AM Best announced today that it has upgraded Generali’s Long-Term Issuer Credit Rating (Long-Term ICR) to “a+” from “a” and affirmed the Financial Strength Rating (FSR) of A (Excellent). The outlook of the Long-Term ICR has been revised to stable from positive while the outlook of the FSR remains stable.
In AM Best view “the ratings reflect Generali’s balance sheet strength” which AM Best categorizes as strong, “as well as its strong operating performance, very favorable business profile and appropriate enterprise risk management.”
Moreover, the rating agency said that “the upgrade of the Long-Term ICR reflects Generali’s record of consistently strong profitability in challenging market conditions, reflective of the successful execution of the group’s strategic plan, focusing on technical discipline and adapting to a persistent low interest rate environment.”
Please find attached AM Best original press release