Redion Insurance Pty Ltd (formerly Europ Assistance) has been awarded an A+ (Superior) Financial Strength Rating and an “aa-” Long-Term Issuer Credit Rating by leading insurance rating agency AM Best, recognising the strength of the company’s financial foundations and its position within the parent group, Generali.
The rating highlights Redion’s strategic role in supporting Generali’s travel insurance operations across Australia and New Zealand, while also reflecting AM Best’s assessment of Generali’s strong financial position, operating performance and global scale.
CEO of Redion in Australia and New Zealand, Justin Sebire said: ” Receiving this rating provides an important independent assessment of the financial foundations and strength behind our insurance business across the region,” said Mr Sebire.
“Trust is earned over time, and independent recognition like this, helps demonstrate our operational stability behind the products and services we deliver every day, supported by the expertise and scale of the Generali Group.
“For our partners and customers in Australia and New Zealand, this rating will provide added confidence that they’re backed by financial strength, expertise and ability to deliver when it matters most for Aussie and Kiwi travellers.
The milestone comes at a significant time for the business after becoming a licensed general insurer by the Australian Prudential Regulation Authority (APRA) in April this year, and its rebranding from Europ Assistance to Redion in May, marking a significant step in the company’s growth agenda.
“Combined with our APRA licence, this milestone reflects the significant investment we have made in building a strong, well governed and sustainable insurance operation in Australia and New Zealand. Positioning our business for long-term sustained success is the care we aim to deliver for our customers. Always Ready. Always On.”