Standard and Poor's increase Allianz rating

The ratings of Allianz Insurance and Allianz SE have been raised by Standard and Poor's to AA- and AA respectively, both with a stable outlook.

Commenting on Standard and Poor's announcement, Andrew Torrance, CEO of Allianz Insurance, said: "We are delighted with this ratings upgrade. It is testimony to the continued good results, strong capital position, robust risk management and hard work by our employees in both our UK operations and the global group."

For Allianz Insurance, the full ratings are: AA-/stable from A+/stable for the counterparty credit ratings and insurer financial strength ratings.

For Allianz SE, the full ratings are