A.M. Best Co. announced that it has withdrawn the “A+” (Superior) financial strength rating (FSR) and the “aa-” issuer credit ratings (ICR) of Germany’s Bayerische Versicherungsbank AG and Frankfurter Versicherungs-AG following the completed merger with Allianz Versicherungs-AG.
“Subsequently, an NR-5 (Not Formally Followed) has been assigned to both companies, said Best.
“Allianz Versicherungs-AG’s A+ (Superior) FSR and “aa-” ICR remain unaffected by the recent transaction,” it concluded.
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