Delvag Versicherungs-AG was given a financial strength rating of "A-" (negative outlook) by A.M. Best. The companies issuer credit rating is also "a-" (as of 08/2020).

According to A.M. Best, the rating reflects in particular the very good balance sheet strength - which A.M. Best considers to be very strong -, the solid operating results and the appropriate risk management of Delvag. The ratings also take into account Delvag's function as an insurer within the Lufthansa Group.

In this context, the downgrade of the rating from "A" reflects mainly the change in the credit rating of Deutsche Lufthansa due to the worldwide decline in air traffic caused by the COVID 19 pandemic. Almost all airlines are affected by the impact. 

The negative outlook reflects the risk that a slow recovery in the aviation industry could lead to a deterioration in Delvag's key performance indicators. In addition, A.M. Best believes that there is also the potential for a possible further deterioration of Lufthansa's credit profile.

Here you can find Delvag’s annual report and other publications as PDFs to read online.