S&P Global Ratings has upgraded the ratings of three core entities of the UNIQA Group: UNIQA Österreich Versicherungen AG, the reinsurance company UNIQA Re AG (Zurich), and UNIQA Poland (UNIQA Towarzystwo Ubezpieczen S.A.) are now rated “A+”, the company announced.

At the same time, the long-term issuer credit rating of the listed UNIQA Insurance Group AG was raised from “A-” to “A”. The outlook for all entities is stable.

According to S&P, the main reasons for the upgrade include:

• Very strong operating performance and underwriting results, which compare favorably with other “A+” rated insurers.
• Successful execution of the business strategy with greater diversification of earnings between Austria and international markets in Central and Eastern Europe (CEE).
• Robust capital position and solid balance sheet structure, underpinned by a high solvency ratio of 283%.
• Disciplined capital allocation and sustainable deleveraging, further strengthening the Group’s financial position.

“S&P’s upgrade of our operating companies to A+ with a stable outlook is a clear confirmation of our successful strategy, our balance sheet strength as well as our stable and diversified business model. Despite the macroeconomic and geopolitical challenges of recent years, our teams have consistently worked with determination to achieve our goals and create sustainable value for our customers and stakeholders. This recognition gives us additional confidence and motivates us to make UNIQA even stronger and more resilient for the future”, commented Kurt Svoboda, Chief Financial and Chief Risk Officer of UNIQA Insurance Group AG.