SAVA RE, d. d., Ljubljana
A.M. Best Affirms A- Ratings of Sava Re – Outlook Stable
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 hereby announces the following:
Following its regular annual rating review, rating agency A.M. Best affirmed the financial strength rating on Sava Re, the operating holding company of the Sava Re Group, of A- (Excellent) and the issuer credit rating of a- (Excellent), both with a stable outlook.
The agency states in its release that the affirmed ratings reflected its very strong balance sheet and risk-based capitalisation. The strong balance sheet reflects excellent internal capital generation in the Group, a diversified and conservative investment portfolio, prudent reserving and access to capital markets.
The Agency is expecting a modest premium growth for 2017 in view of the challenging macroeconomic conditions in Slovenia, which are currently improving, and very competitive international reinsurance market.
A.M. Best estimates that Sava Re's risk management was appropriate as its risk management capability was aligned with its risk profile, consisting mainly of short-tail business, and was supported by conservative reserving.
This announcement will also be available on the Company’s website at www.sava-re.si, at least five years from the date of the announcement.