Pozavarovalnica Sava dd : Standard & Poor’s Upgrades Sava Re’s Rating to “A” (with a Stable Outlook)
July 31, 2018 at 02:28 am EDT
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Pursuant to the Rules of the Ljubljana Stock Exchange, d.d., Ljubljana and the Market in Financial Instruments Act, Sava Re, d.d., Dunajska 56, Ljubljana announces the following:
Following their regular annual review in July 2018, Standard & Poor's raised the financial strength rating of Sava Re, d.d., to 'A' (excellent), with the medium-term outlook being stable.
According to Standard & Poor's, Sava Re, d.d., has demonstrated to have high capital strength over a longer period of time, both under the methodology of the rating agency and under Solvency II, owing also to its stable dividend policy.
According to Standard & Poor's, the Group's market position and profitability have improved, driven by both organic growth and acquisitions. They find the Group's operational and cost effectiveness to have improved, both in Slovenia and in other markets where the Group is present.
The Group generates positive technical results, both with its insurance and reinsurance business, and has identified the Western Balkans markets as those with the highest potential for its further growth. The rating agency assesses as positive also the already completed acquisitions of entities in those markets where the Group had already been present before, as they have improved its market position.
Sava Re believes that the improved rating will facilitate the implementation of its strategy of selective or profitable growth in international reinsurance markets.
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Pozavarovalnica Sava dd published this content on 31 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 31 July 2018 06:27:10 UTC
Pozavarovalnica Sava dd (or Sava Reinsurance Plc), also known as Sava Re dd, is a Slovenia-based reinsurance undertaking. It operates as a parent company of Sava Re Group, which comprises direct insurance and pension undertakings. The Companyâs activities are divided into four segments: Reinsurance operations, Non-life insurance operations, Life insurance operations and Other business segment. The Reinsurance operations segment comprises treaty and facultative arrangements for intra-group clients and insurance and reinsurance partners worldwide. The Non-life insurance operations segment supports local markets with non-life insurance products and customer oriented services. The Life insurance operations segment is focused on life protection and saving products, including pension schemes. The Other business segment comprises operations of the Companyâs non-insurance subsidiaries. Sava Re Group operates through subsidiaries in Slovenia, Croatia, Serbia, Macedonia, Montenegro and Kosovo.