AM Best says AGCS ratings stable after S&P downgrade

AM Best has affirmed the A+ financial strength rating of Allianz and subsidiary Allianz Global Corporate & Specialty (AGCS), and has assigned a stable rating. The confirmation comes after Standard & Poor’s (S&P) revised its outlook on industrial lines insurer AGCS’s ratings to negative in June. AM Best said Allianz’s balance sheet is in the strongest category and also flagged strong…

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