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Insurance ratings actions: S&P acts on Allianz Re Dublin, Sogaz Insurance

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Insurance ratings actions: S&P acts on Allianz Re Dublin, Sogaz Insurance

S&P Global Market Intelligence compiles ratings actions in the insurance space daily through 5 p.m. ET. Actions after 5 p.m. ET will be included in the following day's roundup.

U.S. and Canada

Demotech assigned a financial stability rating of A, Exceptional, to Great Bay Insurance Co.

The level of financial stability rating is assigned to insurers that possess exceptional financial stability connected to maintaining positive surplus as regards policyholders, liquidity of invested assets, an acceptable level of financial leverage, reasonable loss and loss adjustment expense reserves, and realistic pricing, according to Demotech.

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S&P Global Ratings affirmed the BBB long-term issuer credit rating of Unum Group and the A insurer financial strength and long-term issuer credit ratings of Unum's core subsidiaries.

The outlook is stable, reflecting the agency's expectation that Unum will maintain its market position and generate solid operating earnings with capital redundancy maintained at the AA level.

Europe

S&P Global Ratings assigned AA- insurer financial strength ratings to Allianz Re Dublin DAC and Allianz Reinsurance America Inc.

The outlook is stable, reflecting the base-case assumption of the companies' continued highly strategic importance to and likelihood of support from Allianz SE.

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Fitch Ratings affirmed the A long-term issuer default rating and A+ insurer financial strength rating of Bupa Insurance Ltd.

The agency also affirmed the A long-term issuer default rating and F1 short-term issuer default rating of Bupa Finance PLC.

The outlooks are stable.

The affirmation reflects the Bupa group's very strong capitalization and leverage, and strong business profile and earnings.

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S&P Global Ratings affirmed the BBB long-term insurer financial strength and issuer credit ratings of Sogaz Insurance Co.

The outlook is stable, taking into account S&P Global Ratings' view that the group will sustain its business position and gradually strengthen its capital and earnings over the next two years.

The affirmation reflects the company's leading position in Russia, with solid margins underlying sound operating performance, a diversified premium base of corporate and retail clients, and a solid risk profile.

Middle East and Africa

S&P Global Ratings affirmed the A- issuer credit and insurer financial strength ratings of Al Koot Insurance & Reinsurance Co. SAQ.

The outlook is stable, reflecting S&P Global Ratings' view that Al Koot will maintain profitable underwriting results and AAA capital adequacy, despite strong business expansion over the next two years.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.

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