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FOR IMMEDIATE RELEASE
AMSTERDAM - OCTOBER 17, 2024 11:21 AM (EDT)
AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a+” (Excellent) to Generali Deutschland Versicherung AG (GEDV) (Germany). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings reflect GEDV’s inclusion as a member of the lead rating unit of Assicurazioni Generali S.p.A. (Generali), which has a balance sheet strength that AM Best assesses as strong, as well as strong operating performance, very favourable business profile and appropriate enterprise risk management.
GEDV is strategically important to Generali as it sources the majority of the group’s property/casualty business in Germany, which is Generali’s third largest market. Additionally, the entity is important to the group due to its strong brand in the German market and its very strong distribution channel through DVAG’s distribution agencies. GEDV is fully integrated within the Generali group.
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.