Pozavarovalnica Sava

Regulatory Filings • Nov 7, 2016

Category: Inside information

Published on: SEOnet

Published at:  04.11.2016 17:40

Published document ID: INI-700/16

INI-702/16

SAVA RE, d. d., Ljubljana

A.M. Best Affirms A- Rating With a Stable Outlook

Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., and the Financial Instruments Market Act, Sava Re, d.d., Dunajska 56, Ljubljana, hereby announces the following: 

Following their regular annual review, the A.M. Best rating agency affirmed the financial strength rating of A- and the issuer credit rating of a- of Sava Re, d.d., the controlling company of the Sava Re Group. The outlook of these ratings is stable in the medium run. 

According to A.M. Best, the rating affirmations reflect Sava Re's strong balance sheet and strong risk-adjusted capitalisation. Balance sheet strength reflects Sava Re's low financial leverage, a diversified and conservative investment strategy and a prudent reserving philosophy. As regards the highly-competitive Slovenian insurance market, the agency sees Sava Re's performance and insurance portfolio structure as solid. As regards the international reinsurance markets, the agency sees Sava Re's development of its competitive position and its strategy of slower but profitable growth in these markets as positive. As regards the recent integration of Sava Re's four insurers, the agency thinks that some execution risk might arise as regards the expected synergies, which, however, is a normal risk of such integrations. 

The affirmed rating will allow Sava Re to achieve its strategic objective of a rating which is at least A, and through this to achieve its performance objectives both in reinsurance and insurance. 

This announcement will also be available on the Company's website at www.sava-re.si, at least five years from the date of the announcement.

The management board

Date: 07.11.2016