A.M. Best Co. announced that it has withdrawn the “A+” (Superior) financial strength rating (FSR) and the “aa-” issuer credit ratings (ICR) of Germany’s Bayerische Versicherungsbank AG and Frankfurter Versicherungs-AG following the completed merger with Allianz Versicherungs-AG.
“Subsequently, an NR-5 (Not Formally Followed) has been assigned to both companies, said Best.
“Allianz Versicherungs-AG’s A+ (Superior) FSR and “aa-” ICR remain unaffected by the recent transaction,” it concluded.
Was this article valuable?
Here are more articles you may enjoy.
US Declares Power Emergency in Southeast as Heat Strains Grids 
Claimants of 23andMe Data Breach to Get $46.75M in Settlement Deal 
Karen Read Sues Police Agencies That Investigated Her Boyfriend’s Death 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
