Slovenia-Based Sava Re Insurance Group Upgraded To 'A' On Solid Capital, Earnings, And Business Position; Outlook Stable

We consider that Sava Re's capital adequacy has stabilized in the 'AAA' level, according to our risk-based model, thanks to sustained stable retained earnings and an increasingly conservative risk profile. We also believe Sava Re's competitive position and profitability are benefiting from its organic and external growth, sound underwriting performance, and increasing operational and cost efficiency. As a result, we are raising our ratings on the group's core operating entities, Pozavarovalnica Sava and Zavarovalnica Sava, to 'A' from 'A-'. The stable outlook reflects our expectation that Sava Re will preserve its extremely strong capital adequacy and continue to expand profitably, sustained by conservative underwriting and investment practices. FRANKFURT (S&P Global Ratings) July 30, 2018--S&P Global Ratings said today that it

...+ We consider that Sava Re's capital adequacy has stabilized in the '###' level, according to our risk-based model, thanks to sustained stable retained earnings and an increasingly conservative risk profile. + We also believe Sava Re's competitive position and profitability are benefiting from its organic and external growth, sound underwriting performance, and increasing operational and cost efficiency. + As a result, we are raising our ratings on the group's core operating entities, Pozavarovalnica Sava and Zavarovalnica Sava, to 'A' from 'A-'. + The stable outlook reflects our expectation that Sava Re will preserve its extremely strong capital adequacy and continue to expand profitably, sustained by conservative underwriting and investment practices. FRANKFURT (S&P Global Ratings) July 30, 2018--S&P Global Ratings said today that it raised its long-term issuer credit and issuer financial strength ratings on Slovenia-based multiline insurance group Sava Re's core entities Pozavarovalnica...

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