Slovenska Sava Re has been approved by AM Best with a credit rating of A
LJUBLJANA (Slovenia), September 30 (SeeNews) – The American rating agency AM Best has confirmed the assessment of the financial strength of the Slovenian reinsurance company Sava Re. [LJE:POSR] “A” (excellent) and the issuer’s long-term credit rating “a”, both with a stable outlook, Sava Re announced.
“The balance sheet was rated as very good, business performance as strong, the impact of the business profile on credit ratings as neutral and the company’s risk management as developed and appropriate to the risk profile and operating scale,” the reinsurer said in a statement on Thursday.
AM Best assesses Sava Re’s balance sheet as very strong, based on the strongest level of risk-adjusted capitalization, a liquid investment portfolio, prudent provisioning and good internal capital generation with low reliance on reinsurance, good financial flexibility and access to capital and debt markets, it is said the reinsurer.
The agency notes that Sava Re has achieved strong and stable business results, which are driven by the good performance of property and life insurance and supplemented by healthy investment income, despite increasingly challenging market conditions, according to Sava Re.
Sava Re is the parent company of the Sava Insurance Group, which operates in Croatia, Kosovo, North Macedonia, Montenegro and Serbia, as well as in Slovenia.