- 11/12 Jun 2013 - London Real Estate Forum
- 12 Jun 2013 - BLP sponsors RIBA London Building of the Year Award
- 11 Jun 2013 - Property & Construction Summer Reception
- 10 Jun 2013 - Property4Media Media Marketplace
- "UK is market leader in terms of the intellectual development & momentum behind BIM"
- Are you considering 'build to let'?
- Only half of commercial property professionals believe that the worst of the recession is over
- Funders' capital exposure on developments avoidable
- 5-7 Mar 2013 - Ecobuild, ExCel London
- Green Deal launch prompts mixed reviews (H&V News)
S&P rating confirmed for Allianz Global Corporate & Specialty
Standard & Poor’s (S&P), the worldwide insurance rating agency, has confirmed the Financial Strength Ratings (FSRs) of Allianz Global Corporate & Specialty as AA. In a construction market suffering the effects of a serious lack of funding, this is excellent news for developers looking to bring both residential and commercial schemes to market.
As the lending criteria from banks and investment groups has become more restrictive in the global economic downturn, obtaining development funding has never been more difficult. However, acquiring latent defects insurance through solid policies from leading global insurers actively strengthens the attractiveness of an investment vehicle such as a housing scheme or commercial property, increasing the likelihood of securing that funding.
More developers, and in particular their insurance brokers, are recognising the need to assess an insurers risk rating; in some cases, disregarding warranty products underwritten by insurers who fail to meet the the AA standard.
Allianz Global Corporate & Specialty has demonstrated a creditworthiness which, according to S&P is "underpinned by strong capitalization, strong underwriting results, and management's demonstrated ability to implement its global strategy."
Key points from the S&P Report include:
- Corporate Profile: A leading player in industrial and specialty lines business
- Competitive Position: Particularly strong in Europe and improving in U.S. markets
- Management and Corporate Strategy: A strong execution track record
- Enterprise Risk Management: Strongly integrated into Allianz Group’s ERM framework
- Investments: A conservative investment approach
- Liquidity: Very strong, with access to Allianz SE's resources
To discuss how BLP and Allianz can maximise the investment opportunities on your future developments, please contact us direct on 020 7204 2424.
BLP offers a very good alternative to traditional warranties and they are always a pleasure to work with.