Quick Links
Life Reinsurance >
Actuarial Consult >
Underwriting >
Claims >
Group Reinsurance >
Contact Us >
Generali Group >
Transfer Data Access Point >
A.M. Best Media Release
FOR IMMEDIATE RELEASE
CONTACTS:
Edward Eyring
(908) 439-2200, ext. 5123
edward.eyring@ambest.com
William Pargeans
(908) 439-2200, ext. 5359
william.pargeans@ambest.com
Public Relations
Jim Peavy
(908) 439-2200, ext. 5644
james.peavy@ambest.com
Rachelle Striegel
(908) 439-2200, ext. 5378
rachelle.striegel@ambest.com
A.M. Best Affirms Ratings of Generali USA Life Reassurance Company
OLDWICK, N.J., June 6, 2007—A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and the issuer credit rating of "a" of Generali USA Life Reassurance Company (Generali Life Re) (Kansas City, MO). The outlook for both ratings is stable. Generali Life Re is the U.S. life reinsurance subsidiary of Assicurazioni Generali S.p.A. (Generali) (Italy), the leading Italian life insurer and one of the largest insurance groups by market capitalization in Europe.The rating of Generali Life Re reflects its strong risk-adjusted capitalization, expanding market position in the U.S. life reinsurance marketplace, reasonable strategy to fund its growing statutory Triple X reserves and a seasoned and experienced management team. The parent company conducted life reinsurance activities through Business Men's Assurance Company of America until 2003 when it was sold. Generali Life Re was subsequently formed and has since developed a favorable track record in life reinsurance through expanding relationships with major direct life writers and generating greater premium volume. As a result, Generali Life Re currently enjoys a solid mid-market position.
Partially offsetting these positive rating factors are the need for continued growth and scale in a market increasingly dominated by a few large players and the potential pricing pressures stemming from competition from new entrants into the life reinsurance arena. Although profitable on a GAAP basis, its statutory results have been pressured by new business growth and goodwill amortization. Going forward, an able management and the potential to receive parental support if needed underpin A.M. Best's stable view of Generali Life Re.
For Best's Ratings, an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings.
Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com.
Ratings Links
© 1996-2008 Generali COPYRIGHT INFORMATION
