Ratings
This section contains the ratings assigned to the Group by the leading international agencies (Moody's, AM Best and Fitch).
On 13 February 2015, at Generali’s request, Standard & Poor’s withdrew its rating relative to the Group.
Rating - Insurance financial strength
| Agency | Current* | 31.12.22 | 31.12.21 | 31.12.20 | 31.12.19 | |
| Moody's | Rating Outlook |
A3 |
Baa1 |
Baa1 |
Baa1 Stable |
|
| Fitch | Rating Outlook |
A |
A |
A- |
A Negative |
|
| AM Best | Rating Outlook |
A |
A |
A |
A |
*With link to the latest press release.
Rating - Bonds
| Current | 31.12.22 | 31.12.21 | 31.12.20 | 31.12.19 | ||
| Moody's | senior | Baa1 | Baa1 | Baa2 | Baa2 | Baa2 |
| subordinated | Baa2 | Baa2 | Baa3 | Baa3 | Baa3 | |
| hybrid | Baa3 | Baa3 | Ba1 | Ba1 | Ba1 | |
| outlook | stable | stable | stable | stable | stable | |
| Fitch | senior | A- | A- | A- | BBB+ | A- |
| subordinated | BBB (1) | BBB (1) | BBB (1) | BBB- (1) | BBB (1) | |
| hybrid | BBB | BBB | BBB | BBB- | BBB | |
| outlook | positive | positive | positive | stable | negative | |
| AM Best | senior | a | a | a | a | a |
| subordinated | a- | a- | a- | a- | a- | |
| hybrid | bbb+ (2) | bbb+ (2) | bbb+ (2) | bbb+ (2) | bbb+ (2) | |
| outlook | stable | stable | stable | stable | stable |
(1) Generali’s Eur 1bn 4.125% subordinated note, issued on April 29, 2014, affirmed at BBB+
(2) AM Best new methodology on debt, effective on May 6, 2014, introduced a different notching between senior and junior subordinated debt
Description & Ranking Grid by Rating Agency
Ratings refer to a judgement of the credit rating and probability of default of an entity or the security to which the rating has been assigned. Every ratings agency uses a different method to compile its ratings.