MINNEAPOLIS--(BUSINESS WIRE)--Minneapolis-based Allianz Life Insurance Company of North America (Allianz Life®) announced that A.M. Best affirmed the company’s financial strength rating as A (Excellent) and the issuer credit ratings of “a+”. The outlook for all ratings is stable. This is consistent with the ratings assigned in 2013. The ratings reflect Allianz Life’s strategic position under its parent, Allianz SE, as well as its leading market position in the U.S. fixed index annuity market.
A.M. Best said the ratings reflect Allianz Life’s leading market position within the fixed index annuity (FIA) market, solid risk-based capital position, well-developed enterprise risk management framework and the recent improvement in operating results. The ratings also recognize Allianz Life’s strong balance sheet with no financial leverage and limited use of operating leverage. Additionally the ratings recognize Allianz SE’s global business profile as a leading financial services company and the diversification benefits provided by its core business segments within life/health, property/casualty and asset management sectors.
“Earning an ‘Excellent’ rating confirms the assessment that as an insurance company, we have the ability to fulfill long-term promises to our policyholders,” said Allianz Life Chief Financial Officer Giulio Terzariol. “Customers entrust their hard-earned money in our products so they can meet their retirement goals. We are dedicated to generating results for our customers. The affirmed rating reflects our leadership in the FIA market and confirms Allianz Life’s position of offering financial and retirement income solutions.”
The A.M. Best rating of A (Excellent) is the third highest of 16 possible ratings. Allianz Life has maintained this rating for several years. For example, the financial strength rating of Allianz Life did not change during the 2008-2009 financial crisis, a period during which many financial services companies received downgrades. A.M. Best affirmed its rating on July 18, 2014.
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America, one of FORTUNE’s 100 Best Companies to Work For in 2014, has been keeping its promises since 1896. Today, it carries on that tradition, helping Americans achieve their retirement income and protection goals with a variety of annuities and life insurance products. As a leading provider of fixed index annuities, Allianz Life is part of Allianz SE, a global leader in the financial services industry with 148,000 employees worldwide. More than 78 million private and corporate customers rely on Allianz knowledge, global reach, and capital strength to help them make the most of financial opportunities.
