Australian insurer joins Generali lead rating unit with stable outlook
AM Best has assigned Redion Insurance Pty Ltd a Financial Strength Rating of A+ (Superior) and a Long-Term Issuer Credit Rating of aa- (Superior). The outlook on both ratings is stable.
Redion is domiciled in Australia and was formerly known as Europ Assistance Australia Pty Ltd. AM Best tied the ratings to Redion’s inclusion in the lead rating unit of Assicurazioni Generali S.p.A., known as Generali.
According to AM Best, Generali’s lead rating unit has very strong balance sheet strength. The agency also cited strong operating performance, a very favourable business profile and appropriate enterprise risk management.
Redion supports travel insurance expansion
Redion joined the Generali rating unit because it has a strategic role in the group’s expansion into travel insurance in Australia and New Zealand. That role was a key factor in the rating decision.
Generali also supports Redion through capital injections, a commitment to future capital needs, and ongoing reinsurance, operational and enterprise risk management support. AM Best said Redion benefits from both implicit and explicit backing from the group.
In addition, AM Best told rated entities about the ratings before publication. In Redion’s case, the agency said it did not amend the ratings after that communication.
The ratings appear on AM Best’s website, alongside related disclosures and rating information. AM Best also directed readers to its guidance on the use and limits of credit rating opinions and on the proper use of its ratings and assessments.
AM Best specialises in the insurance industry as a credit rating agency, news publisher and data analytics provider. The company is headquartered in the United States and operates in more than 100 countries.
Its regional offices include London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. The Redion rating announcement was issued from Singapore on 15 September 2026.
