Allianz Worldwide Care receives “A-” rating from Standard & Poor's

Standard & Poor’s has assigned its “A-“ long-term counterparty credit and insurer financial strength ratings to Dublin-based international health insurance provider Allianz Worldwide Care. This places Allianz Worldwide Care in a uniquely strong financial position within the international health insurance market, as an A- rated company wholly owned by an AA rated company, Allianz SE.

Standard & Poor's has been rating the financial strength of insurance companies since 1971. Financial Strength Ratings (FSR) represent Standard & Poor’s opinion of the financial security characteristics of an insurance organisation, providing key information to assist in the decision making of a wide ranging audience, including insurance buyers, brokers, agents, investors and local insurance regulators.

The outlook on the ratings is stable, reflecting Standard & Poor’s expectation that Allianz Worldwide Care will remain a strategically important member of the Allianz Group. The ratings also reflect good operating performance and a good competitive position through access to Allianz group clients and distribution networks, expanding geographical coverage, strong brand recognition, and high service levels demonstrated by a client retention rate which has never fallen below 95%.

Commenting on the ratings, Ron Buchan, CEO of Allianz Worldwide Care said: "This is a significant independent endorsement of Allianz Worldwide Care's financial strength and stability and a particular achievement for us in that it is the highest full Standard & Poor’s rating awarded to-date to an international health insurance specialist. When added to our reputation for service excellence, it provides our clients with a yet another reason to feel confident about doing business with us. Allianz Worldwide Care is the only international health insurance provider to offer a 48-hour turnaround on submitted medical claims, under its “Clear to Zero” claims handling initiative - just one of the innovations that highlight our commitment to customer service."

Standard & Poor's expects Allianz Worldwide Care’s competitive position to remain good as it continues to grow its health insurance business through leveraging Allianz's distribution in new markets such as Eastern Europe and China, as well as enhancing claims processing and client services by further development of its Internet-based services.

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Allianz Worldwide Care specialises in providing international health insurance for employees, individuals and their dependants, wherever they are in the world. As an A- rated (Standard & Poor’s) wholly owned subsidiary of AA rated Allianz SE, the company is able to draw on the resources and expertise of one of the world’s leading insurers and financial services providers.

From a range of in-patient, out-patient and dental products, clients can create a comprehensive international healthcare plan that suits their needs, including both long term and short term assignments.

Allianz Worldwide Care is the only international health insurance provider to offer a 48-hour turnaround on submitted medical claims, under its “Clear to Zero” claims handling initiative. With a 95% client retention rate and a customer base that includes many of the European Fortune 500 companies, Allianz Worldwide Care continues to build a reputation for service excellence in international healthcare.