Research Update: Slovenia-Based Sava Insurance Group 'A' Ratings Affirmed Following Revised Capital Model Criteria; Outlook Stable

On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Criteria Insurance General: Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). Under our updated model, the Sava Insurance Group's capital buffers still meet the risk-based capital requirements in an extreme stress scenario (99.99% confidence level), and our base-case scenario assumes that this will persist. We therefore affirmed our 'A' long-term financial strength and issuer credit ratings on Sava Re and our 'A' long-term financial strength rating on the group's core entity Zavarovalnica Sava. The stable outlook reflects our view that Sava Insurance Group (Sava) will retain its strong earnings and maintain its excellent capital adequacy. On June 3, 2024, S&P Global Ratings affirmed its 'A'

...- On Nov. 15, 2023, we published our revised criteria for analyzing insurers' risk-based capital (see "Criteria | Insurance | General: Insurer Risk-Based Capital Adequacy--Methodology And Assumptions"). - Under our updated model, the Sava Insurance Group's capital buffers still meet the risk-based capital requirements in an extreme stress scenario (99.99% confidence level), and our base-case scenario assumes that this will persist. - We therefore affirmed our 'A' long-term financial strength and issuer credit ratings on Sava Re and our 'A' long-term financial strength rating on the group's core entity Zavarovalnica Sava. - The stable outlook reflects our view that Sava Insurance Group (Sava) will retain its strong earnings and maintain its excellent capital adequacy....

Research Update