Sava Re: Rating agency Standard &Poor's revises the medium-term outlook to positive from stable

Following their regular annual review in July 2017, the Standard & Poor's rating agency affirmed the financial strength rating of "A-" (excellent) of Sava Re, revising also its medium-term outlook to positive from stable.

The agency assesses that Sava Re is successfully implementing its risk management strategy. On the reinsurance underwriting side, it recognises the enhanced activities aimed at catastrophe risk management, as well as the more conservative underwriting in the international reinsurance markets. On the investments side, it recognises the contribution of investment portfolio diversification to the stability of returns. All this in turn contributes to greater stability of the expected operating results. Further, the rating agency assesses that the company's financial position is to strengthen further, also due to an increased focus on operational effectiveness. The agency assumes that Sava Re will benefit from healthier credit and macroeconomic conditions in Slovenia to further improve the scale and efficiency of its operations. Based on all this, S&P raised Sava Re's medium-term outlook to positive, which also indicates that the rating agency could raise Sava Re's rating over the next 12-24 months if Sava Re continues maintaining stable capital and earnings, growing its business profitability, further improving its operating efficiency, and maintaining capital adequacy in excess of the agency's AAA threshold. Read the full story

Related articles

TALANX reconfirmed its FY2018 outlook for the Group's net income

Hannover-based TALANX Group announced its Q1 GWP was up to EUR 10.6 billion, 8.3% up y-o-y, while the Group net income dropped by 8.4%, to EUR 218 million "mainly as a result of the one-off effect of the US tax reform as well as the higher share of profits attributable to minorities".

2018-05-17

ALLIANZ 1Q results are on track to meet FY 2018 targets

German insurance group ALLIANZ announced its 1Q 2018 operating profit was down 6.0% to EUR 2.8 billion. "The main drivers for the decrease were EUR 142 million currency translations and EUR 148 million benefit in the prior year related to our corporate pension administration".

2018-05-17

CROATIA Osiguranje, 1Q2018: net profit up by 50% y-o-y

Adris group's insurance arm, CROATIA Osiguranje, posted a net profit of HRK 101.5 million (~EUR 13.7 million) in 1Q2018, up 50% y-o-y. Its consolidated GWP went up by 7% y-o-y, to HRK 1.10 billion (~EUR 148.6 million).

2018-05-10

SWISS Re reports Q1: GWP up by 13.1%

SWISS Re announced Q1 result heavily impacted by changes in US GAAP accounting due to which the group's net income fell from USD 656 million to USD 457 million.

2018-05-10

ZURICH Q1 result: GWP in P&C rose 5%

ZURICH 1Q2018 results show the development of all business lines. P&C GWP rose by 5% in USD terms. Overall the Group saw rate increases of around 2%, said the insurer's official statement.

2018-05-10

MUNICH Re Q1 profit jumped by 48% y-o-y

1Q2018 results of MUNICH Re show an achieved profit of EUR 827 million, more than 48% higher y-o-y (vs EUR 557 million) thanks to lower expenses and strong underwriting performance.

2018-05-10

Aon's net profit doubled during Q1

Aon Group reported Q1 2018 net profit of USD 610 million, compared with USD 305 million a year before, according to a statement published on the company's website.

2018-05-10

ON THE MOVE

TOP EVENT

FIAR 2018 - Motor Insurance Conference (I & II): with the right use of technoloogy, clients' expectations and MTPL insurer's profitability may go hand in hand

The first and second parts of the Motor Insurance Conference taking place at FIAR 2018 focused on the new MTPL Law in Romania and the way it changed the market after almost 1 year of implementation, as well as the consequences of the new legislative framework and the operational challenges this brings, but also the most suitable solutions for balancing regulation, insurers' appetites and customer expectations on the MTPL market.

16.05.2018

FIAR 2018: Brokers' Conference (II): digitization and technology are needed for efficient operations, but will not replace the human touch in consultancy

The second part of the Brokers' Conference taking place at FIAR 2018 analyzed the impact of European Union's legislative overhaul - IDD & GDPR -, also bringing into debate study cases and real-life scenarios of what the brokers face on the market, and, last but not least, trying to see whether digitization and InsurTech could truly lead to disintermediation.


15.05.2018

Brokers' Conference (I): Until 1 July, when we will see the final version of the IDD, we cannot say for certain if we are ready and how ready we actually are

The second day of debates at FIAR 2018 started with The Brokers' Conference, the event dedicated to the mediation market in Romania and in the CEE region. The first part of the conference focused on a market overview and also analyzed the challenges of the IDD implementation, as well as the potential impact of IPID for MTPL and PAD.

15.05.2018

INSURANCE IN A DIGITAL WORLD Conference: capacity, consistency and culture are the three key success factors in the digital transformation of insurers

The INSURANCE IN A DIGITAL WORLD Conference, taking place at FIAR 2018, brought into debate the impact of digitization on the insurance industry. The first part of the conference focused on risks & opportunities of digitalization for both industry and consumers, as well as case studies and best practices: BigData & IoT, BlockChain, Peer-to-Peer, and AI.

14.05.2018

Insurance Market Trends Conference (II): GDPR and IDD, European regulations affecting all business lines, as well as the compliance with the Solvency II framework, are the main challenges ahead for the Romanian market

During the second part of the Insurance Market Trends Conference, taking place at FIAR 2018, the debates focused on the current situation in Romania and the sustainable development for a growing and stable insurance market, as well as the challenges and opportunities for the local insurers.


14.05.2018

See all