S&P confirms UNIQA rating and expects further growth

20 November 2023 — Andrei VICTOR
Austrian insurance group UNIQA informed that the international rating agency Standard & Poor's (S&P) confirms UNIQA’s rating in its current report: the "A" ratings for UNIQA Osterreich Versicherungen AG and UNIQA Re AG and the "A-" rating for UNIQA Insurance Group AG, all with a stable outlook.

" In our opinion, the group will continue to leverage its longstanding relationships with retail clients, small and midsize enterprises, and bancassurance cooperations to further cement its market standing in Austria and CEE," according to the S&P analysts.

S&P also mentions the banking cooperation (primarily Raiffeisen) in the product distribution (bancassurance) as main reasons for the Group's competitiveness, and the successful integration of the former AXA companies, which further improved UNIQA's standing in Poland, the Czech Republic, and Slovakia. Analysts expect this trend to continue.

The rating agency expects UNIQA to maintain its profitability in 2023-2025 despite geopolitical and macroeconomic challenges. A robust result and strong capital position are expected in the medium term, driven by underwriting and cost discipline.