Following Allianz’ recent announcement to buy out all of the minority shareholders in Euler Hermes, hence making Euler Hermes a fully owned subsidiary of the Allianz group, Standard & Poors reviewed the status of three Euler Hermes operating companies’ from “strategically important’ to a ‘core” ’ part of the Allianz Group.
Subsequently, and with effect from 1st December 2017, the AA-rating has been reviewed to AA, with a stable outlook. This stable outlook reflects the outlook of the Allianz Group. In their press release, S&P share their belief on Euler Hermes’ strong growth prospects, and their view on Euler Hermes’ increasingly important role within Allianz Group.
According to S&P, this minority share buy-out demonstrates Allianz’ commitment to incorporate Euler Hermes’s business into their overall strategy more deeply.
Euler Hermes recognises this upgrade in the S&P rating as a proof of the positive impact of their strategy and ongoing commitment to market excellence, as well as a recognition of their contribution to Allianz Group’s strategy.