SLOVENIA: AM Best confirmed the rating of SAVA Re at A level

8 November 2021 — Marina MAGNAVAL
The rating agency AM Best confirmed the financial strength rating "A" (excellent) of the Slovenian reinsurer Sava Re and its long-term credit rating at "a", both with a stable outlook, informed.

"The balance sheet is rated as very strong, operating performance as strong, the impact of the business profile on ratings as neutral and the company's risk management as appropriate for the group organization", the reinsurer said in a statement.

The rating agency noted that Sava Re's balance sheet is based on the highest risk-adjusted capitalization, liquid investment portfolio, prudent provisioning, and good internal capital generation with low dependence on reinsurance, good financial flexibility, and access to capital markets. AM Best also underlined that Sava Re, supported by its strong position in the main market of Slovenia, where it is the second largest player with a market share of about 20%, is actively developing its competitive position in the Western Balkans.

Sava Re is a parent company of Sava Insurance Group, operating in Macedonia, Croatia, Kosovo, Montenegro and Serbia, as well as in Slovenia.

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