The Credit Ratings (ratings) have been removed from under review with negative implications. The outlook assigned to the FSR is stable, whilst the outlook assigned to the Long-Term ICR is negative. Concurrently, A.M. Best has withdrawn the ratings as the company has requested to no longer participate in the A.M. Best's interactive rating process.
The ratings reflect GENERALI Leben's balance sheet strength, which A.M. Best categorises as adequate, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also factor in rating enhancement from Generali Leben's ultimate parent, Assicurazioni GENERALI S.p.A. (Generali). The rating actions reflect the added pressure that has been placed on GENERALI Leben's rating fundamentals by the Generali group's decision to put this company into run-off in the first quarter of 2018, and the uncertainty surrounding the level of support Generali Leben could receive from GENERALI in the future, as the group has not excluded the possibility of disposing of GENERALI Leben's portfolio.