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A.M. Best Affirms Ratings of Assicurazioni Generali S.p.A.

Publication: Wireless News
Publication Date: 13-OCT-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of "aa-" of Assicurazioni Generali S.p.A. (Generali) (Italy).

The outlook for both ratings remains stable. At the same time, A.M. Best has affirmed the ratings of debt instruments issued or guaranteed by Generali. (See below for a detailed listing of the ratings.)

The ratings reflect the company's excellent business position and the strong, albeit lower, capitalisation. An offsetting factor is the deterioration of profitability, with life business affected by the financial downturn and increased volatility of capital markets, and the non-life segment impacted by the economic crisis in conjunction with persistent decreasing margins for motor in the main markets.

Generali is one of the main insurers in Europe, where the group writes approximately 95 percent of...

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