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News - Am Best affirms Gerling companies ratings.
(From Reinsurance)
AM Best has affirmed the financial strength rating of A- (Excellent) of Gerling-Konzern Allgemeine Versicherungs-Aktiengesellschaft and its US subsidiary, Gerling America Insurance Company (GAIC).
Concurrently, AM Best has affirmed the issuer credit rating (ICR) of 'a-' of GKA and the debt rating of 'bbb' of the EUR250m fixed-to-floating-rate subordinated notes issued by GKA and assigned an ICR of 'a-' to GAIC.
The outlook on all ratings remains stable.
The rating of GKA reflects its strong risk-adjusted capitalisation, sufficient earnings level and maintenance of a strong business profile as an industrial insurer in Germany despite the uncertainty surrounding GKA's future ownership.
AM Best expects GKA's risk-adjusted capitalisation to remain strong as higher capital requirements from the planned increase in ...
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