Fitch rates Allianz bonds A

Fitch Ratings said it affirmed Allianz AG's A+ insurer financial strength and issuer default ratings following the announcement of the company's. The AA- insurer financial strength ratings of its main subsidiaries, Allianz Lebensversicherungs-AG and Allianz Private Krankenversicherungs-AG, are also affirmed. The outlook is stable.

In addition, Fitch assigned an A rating to Allianz Finance II BV's €800 million 5 3/8% subordinated bond, which is guaranteed by Allianz AG, and an AA- insurer financial strength rating to all major European subsidiaries that are strategically important or core to Allianz AG.

Allianz reported strong 2005 results exceeding its own targets, the agency said. Net income increased 31% to €4.4 billion supported by profitable operational results across all business segments. Fitch predicted that Allianz will to maintain its strong operating performance to achieve a return on equity that is consistent with the assigned ratings.

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