OREANDA-NEWS. A.M. Best has revised the issuer credit rating (ICR) outlook to positive from stable and affirmed the financial strength rating (FSR) of A+ (Superior) and ICR of “aa-” of Allianz SE (Allianz) (Germany) and most of its A.M. Best rated subsidiaries. The outlook for the FSR remains stable..

Allianz’s excellent risk-adjusted capitalisation, strong operating performance, diversified business profile and robust risk management framework add positive pressure to its rating; however, these positive rating drivers are tempered by the company’s exposure to volatile investment markets. The group’s strategic plans include overhauling the mix of new life business written, reducing its sensitivity to credit spreads, digitalising its core underwriting platforms, cultivating customer centricity and improving underwriting performance. If the group is able to broadly achieve these targets over the coming two-to-three years, whilst maintaining strong capitalisation, a rating upgrade is likely.