Best’s News & Research Service - April 06, 2023 12:17 PM (EDT)
AM Best Withdraws Credit Ratings of TUA Assicurazioni S.p.A.
- April 06, 2023 12:17 PM (EDT)
Amsterdam //BestWire// - AM Best has maintained the under review with developing implications status for the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a+” (Excellent) of TUA Assicurazioni S.p.A. (TUA) (Italy), a subsidiary of Assicurazioni Generali S.p.A. (Generali). Concurrently, AM Best has withdrawn the Credit Ratings (ratings) as TUA has requested to no longer participate in AM Best’s interactive rating process.
Following the acquisition of the company by Generali, TUA’s ratings were placed under review with developing implications on 16 December 2022. Whilst Generali has expressed its commitment toward TUA and its intention to maintain it as part of the Generali group, at the time of this release Generali’s business plan for TUA remains unclear.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.