Standard & Poor's rates Zavarovalnica SAVA 'A-' with a Positive Outlook
SAVA Re mentioned that on 8 November 2017, the rating agency Standard & Poor's assigned Zavarovalnica SAVA 'A-' (excellent) issuer credit and financial strength ratings with a positive outlook.
Zavarovalnica SAVA is the core subsidiary of SAVA Re and the largest contributor to the Group's premiums and profits. "Zavarovalnica SAVA has a strong position in the Slovenian insurance market, where it is the second largest player with a 17 % market share", the company announced in a statement.
"The positive outlook reflects the outlook on SAVA Re's core operating entities with a potential that the ratings improve over the next two years, provided the Group maintains a stable capital position, ensures growth in premiums and earnings, cost efficiency and capital adequacy above the agency's 'AAA' threshold".