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Corporate news

15 December 2022

Upgrade to “A+” (superior) with “stable” outlook follows “positive” outlook from November 2021
Financial strength ratings now in the second-best category

The international rating agency A.M. Best has upgraded the credit ratings of HDI V.a.G., Talanx AG and its rated subsidiaries as follows: The Financial Strength Rating has been upgraded to “A+” (superior) from “A” (excellent), and the Long-Term Issuer Credit Ratings to “aa-“ (superior) from “a+” (excellent).

The rating move follows A.M. Best’s announcement from November 2021 to revise the outlook to “positive” from “stable”.

According to A.M. Best, the rating ugrades reflect “a consistent strengthening of balance sheet fundamentals over the past few years, underpinned by a prudent risk culture and strong and stable operating performance”.

“We are very pleased that A.M. Best has upgraded our credit ratings, which we believe confirms our systematic efforts to improve the quality and sustainability of our earnings, as well as our strong risk culture, in an environment of considerable uncertainty”, said Dr Jan Wicke, Chief Financial Officer of HDI V.a.G. and Talanx AG.

The credit rating upgrade affects the following companies in the Talanx Group:

Talanx AG

HDI Global SE

HDI Global Specialty SE

HDI Global Seguros, S.A. (based in Mexico)

HDI Global Network AG

HDI Global Insurance Company

HDI Lebensversicherung AG

HDI Specialty Insurance Company

HDI Reinsurance (Ireland) SE

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Disclaimer

This news release contains forward-looking statements which are based on certain assumptions, expectations and opinions of the Talanx AG management. These statements are, therefore, subject to certain known or unknown risks and uncertainties. A variety of factors, many of which are beyond Talanx AG’s control, affect Talanx AG’s business activities, business strategy, results, performance and achievements. Should one or more of these factors or risks or uncertainties materialise, actual results, performance or achievements of Talanx AG may vary materially from those expressed or implied in the relevant forward-looking statement. Talanx AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors nor does Talanx AG accept any responsibility for the actual occurrence of the forecasted developments. Talanx AG neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.