Mondial Assistance again receives coveted A (Excellent) financial strength rating from A.M. Best
Company's Access America® travel insurance brand is sold by airlines, travel agents and other premier travel suppliers
Richmond, Va., January 27, 2009 - Mondial Assistance International AG and its subsidiary, Jefferson Insurance Company, have retained their A (excellent) financial strength rating from independent rating agency A.M. Best. According to A.M. Best, "the financial strength rating ... addresses the relative ability of an insurer to meet its ongoing insurance obligations" and Mondial's rating reflects the company's "excellent business profile as a leading worldwide travel insurance and assistance provider."
"The A rating, assigned by an independent, objective authority, is a reflection of the company's sound financial health, stability and our ability to meet our obligations to our customers and business partners," said Mark Cipolletti, vice president for communications with Mondial Assistance USA (www.mondialUSA.com). "During a time of widespread financial uncertainty, Mondial Assistance and Jefferson Insurance Company's excellent rating demonstrates our ability to stand behind our commitments to our customers and business partners."
A.M. Best's report notes that the company's outlook is "stable", meaning that despite weakened demand in the worldwide travel markets, the agency considers the impact to be well within the company's ability to continue to maintain its solid business position. A.M. Best further notes that Mondial Assistance's position is enhanced by the support of its parent company, Allianz SE (www.allianz.com).
According to its report, in A.M. Best's view, "Mondial Assistance is exposed to limited underwriting risks."
About Mondial Assistance:
Mondial Assistance is a global leader in specialty insurance and emergency assistance services. Four percent of the world's population or about 250 million people are served by Mondial Assistance businesses around the globe. In the United States, Mondial Assistance is best known for its Access America® brand of travel insurance and assistance services. Access America plans are sold in all 50 states by the finest travel agencies and suppliers. As one of 29 business units, the U.S. operation also serves major health insurers, credit card, and entertainment companies with insurance products, international travel assistance, and concierge services. Mondial Assistance is part of the Allianz (NYSE: AZ) group of companies. For more information please visit: www.mondialUSA.com.