AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of 'bbb-' of Dunav-Re a.d.o.
The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Dunav-Re's balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
Dunav-Re's risk-adjusted capitalisation is assessed at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), and is expected to remain at this level, with internal capital generation supporting the company's moderate growth plans. Offsetting factors in the balance sheet strength assessment include concentration toward
Dunav-Re has a track record of good underwriting performance, with a five-year (2015-2019) weighted average combined ratio of 72.3%. Prospectively, AM Best expects Dunav-Re to achieve good underwriting results, and to report an average return on equity of approximately 10%. The company's results remain susceptible to volatility due to Dunav-Re's exposure to catastrophe events.
Dunav-Re, a multi-line reinsurer operating in
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