A.M. Best Affirms Ratings of Garant Versicherungs-Aktiengesellschaft

LONDON--(BUSINESS WIRE)-- A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of “a-” of Garant Versicherungs-Aktiengesellschaft (Garant) (Austria). The outlook for both ratings remains stable.

The ratings reflect Garant’s strong risk-adjusted capitalisation and track record of good, albeit volatile, operating performance. The company’s limited business profile, as a small niche provider of political and trade credit single-risk cover specialising in emerging markets, is also taken into consideration. In addition, the ratings reflect the company’s affiliation with and the support provided by its majority shareholder, Delcredere Ducroire, which is the operating holding company of a group of trade credit and political risk insurance companies.

A.M. Best expects Garant’s risk-adjusted capitalisation to remain strong supported by moderate capital generation and comprehensive outward reinsurance protection. Garant also benefits from parental support, provided by Delcredere Ducroire, in the form of a stop loss treaty and quota share reinsurance agreement.

Garant has a track record of good, albeit volatile, technical results, reflected by a five-year average combined ratio of 95%. As a mono-line credit insurer, the company’s results remain highly correlated to changes in the global political and economic environment.

This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2016 by A.M. Best Company, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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A.M. Best
Konstantin Langowski, +(44) 20 7397 0318
Financial Analyst
[email protected]
or
Mathilde Jakobsen, +(44) 20 7397 0266
Associate Director, Analytics
[email protected]
or
Christopher Sharkey, +(1) 908 439 2200, ext. 5159
Manager, Public Relations
[email protected]
or
Jim Peavy, +(1) 908 439 2200, ext. 5644
Assistant Vice President, Public Relations
[email protected]

Source: A.M. Best

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