...Leading Croatian Composite Insurer: Fitch regards Croatia Osiguranje d.d.'s (Crosig) business profile as strong based on the insurer's leading market position and franchise in the Croatian insurance market. Crosig's 28% market share in Croatia (A-/Stable) gives it significant pricing power. However, the operating scale is small. Fitch assesses Crosig's standalone credit quality below the implied IFS Rating of 'a+', due to its company profile, which has a stronger impact on the IFS rating than the weighting would suggest. Very Strong Capitalisation: Our assessment of Crosig's capitalisation is driven by its group Solvency II (S2) ratio of 221% at end-2025 (end-2024: 226%) and its unchanged Prism Global score of 'Extremely Strong'. Fitch expects the S2 ratio to remain above 200% at end- 2026. The group's financial leverage was negligible at end-2025, and we do not expect Crosig to issue debt in the short to medium term. Strong Financial Performance: Fitch expects Crosig to report a stable...
