Research Update: Sava Re Outlook Revised To Positive On Strong Performance And Improving Economic Conditions; Ratings Affirmed At 'A'

Sava Re (Sava) continued its robust underwriting and operating performance in the first nine months of 2024. This should allow to it to deliver robust results in the full year. We now expect Sava to maintain a solid underwriting and operating performance while achieving solid profitable growth in 2025-2026. As a government-related entity with a strong link to and important role for the government of Slovenia, Sava could also benefit from Slovenia's improved creditworthiness. The latter prompted our revision of the outlook on the sovereign ratings to positive from stable earlier this month. We therefore revised the outlook on Sava and its core entity Zavarovalnica Sava to positive from stable and affirmed the 'A' issuer credit and financial strength ratings

...- Sava Re (Sava) continued its robust underwriting and operating performance in the first nine months of 2024. This should allow to it to deliver robust results in the full year. - We now expect Sava to maintain a solid underwriting and operating performance while achieving solid profitable growth in 2025-2026. - As a government-related entity with a strong link to and important role for the government of Slovenia, Sava could also benefit from Slovenia's improved creditworthiness. The latter prompted our revision of the outlook on the sovereign ratings to positive from stable earlier this month. - We therefore revised the outlook on Sava and its core entity Zavarovalnica Sava to positive from stable and affirmed the 'A' issuer credit and financial strength ratings on the entities. - The positive outlook reflects our view that Sava is in a good position to continue its track record of sound operating results, while expanding profitably both domestically and abroad and maintaining its robust...

Research Update