Standard & Poor's rates Zavarovalnica SAVA 'A-' with a Positive Outlook

Standard & Poor's rated Zavarovalnica SAVA 'A-' with a Positive Outlook, the Slovenian re/insurance group SAVA Re announced in a press release posted on Ljubljana Stock Exchange's website.

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".

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