(PRESS RELEASE) TRIESTE, 11-Jan-2019 — /EuropaWire/ — 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.”
THE GENERALI GROUP
Generali is an independent, Italian insurance and asset management group, with a strong international presence. Established in 1831, it is among the world’s leading insurers and is present in 50 countries with total premium income exceeding € 68 billion in 2017. With nearly 71,000 employees
in the world and 57 million customers, the Group is a major player in Western Europe and has an increasingly significant presence in Central and Eastern Europe as well as in Asia.
SOURCE: ASSICURAZIONI GENERALI S.P.A.