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AM Best Upgrades Issuer Credit Rating of Assicurazioni Generali S.p.A.; Assigns Credit Ratings to Generali España, Sociedad Anonima de Seguros y Reaseguros

The ratings reflect Generali’s balance sheet strength, which AM Best categorises as strong, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management. The life segment produced an improved new business margin (standing at 4.01% at year-end 2017 – calculated on present value of new business premiums), driven by the management actions taken to reduce the average embedded guarantee within the life book and develop capital efficient products to augment profitability. Generali remains one of the largest insurers in Europe, with gross written premium in excess of EUR 66 billion in 2017. This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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