A.M. Best Rating
23 Marzo 2016 - 08:20AM
Annunci Borsa (Testo)
Bologna, 23 March 2016 RATING OF A.M. BEST
The rating agency A.M. Best announced yesterday that it has
assigned, for the first time the ratings to UnipolSai Assicurazioni
S.p.A.. A.M. Best assigned to UnipolSai a financial strength rating
of "A-" (Excellent) and an issuer credit rating of "a-". The
outlook on the financial strength rating and on the issuer credit
rating is stable. AM Best said that ratings reflect the company's
well-established market position as one of the leading insurers in
Italy, its solid risk-adjusted capitalisation and good operating
performance. The full text of the agency's report is attached
hereto.
Contacts Unipol Group Press Office Fernando Vacarini Tel.
+39/051/5077705 pressoffice@uniposail.it Barabino & Partners
Massimiliano Parboni m.parboni@barabino.it Tel. +39/335/8304078
Giovanni Vantaggi g.vantaggi@barabino.it Tel. +39/328/8317379
Unipol Group Investor Relations Adriano Donati Tel. +39/051/5077933
investor.relations@unipolsai.it
@UnipolGroup_PR
Gruppo Unipol
UnipolSai Assicurazioni S.p.A. UnipolSai Assicurazioni S.p.A. is
the insurance company of the Unipol Group, Italian leader in
Non-Life Business, in particular in vehicle liability insurance.
Also active in Life Business, UnipolSai has a portfolio of over 10
million customers and holds a leading position in the national
ranking of insurance groups with a direct income amounting to
approximately 14bn, of which 7.3bn in Non-Life Business and 6.7bn
in Life Business (2015 figures). The company currently operates
through 5 divisions (Unipol, La Fondiaria, Sai, Nuova MAA and La
Previdente) and has the largest agency network in Italy, with more
than 3,000 agencies and 6,000 sub-agencies spread across the
country. UnipolSai Assicurazioni is a subsidiary of Unipol Gruppo
Finanziario S.p.A. and, like the latter, is listed on the Italian
Stock Exchange, being one of the most highly capitalized
securities.
FOR IMMEDIATE RELEASE CONTACTS: Alvise Argenton Financial Analyst
+44 20 7397 0293 alvise.argenton@ambest.com Catherine Thomas Senior
Director, Analytics +44 20 7397 0281 catherine.thomas@ambest.com
Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext.
5159 christopher.sharkey@ambest.com Jim Peavy Assistant Vice
President, Public Relations +1 908 439 2200, ext. 5644
james.peavy@ambest.com
A.M. Best Assigns Ratings to UnipolSai Assicurazioni S.p.A. LONDON,
22 March 2016--A.M. Best has assigned a financial strength rating
of A- (Excellent) and an issuer credit rating of "a-" to UnipolSai
Assicurazioni S.p.A. (UnipolSai) (Italy), the main insurance
operating entity of Unipol Gruppo Finanziario S.p.A. The outlook
assigned to both ratings is stable. The ratings of UnipolSai
reflect its well-established market position as one of the leading
insurers in Italy, its solid risk-adjusted capitalisation and good
operating performance. An offsetting factor is the company's
exposure to Italian government bonds, which represent a
significant, albeit decreasing, share of its investment portfolio.
The company's underwriting portfolio also is exposed to the slowly
recovering Italian economy. These factors are partly mitigated by
the solid risk management in place at the company. UnipolSai was
created on 6 January 2014, following the merger of Fondiaria-Sai
S.p.A., Milano Assicurazioni S.p.A., Premafin HP S.p.A. and Unipol
Assicurazioni S.p.A. The company is the leading insurer in the
non-life market in Italy, with a large motor third-party liability
portfolio, and has a strong position in the life market in Italy.
Following the merger, the company is well-placed to develop its
business, supported by a network of agencies across Italy.
Significant claims data, as well as investment in telematics
solutions and tools such as a claims settlement model, are expected
to support pricing, customer service and claims handling, with
positive implications for underwriting results. --MORE--
--2-- In each of its first two years of operation as a combined
entity, UnipolSai reported good operating results, with a
consolidated pre-tax profit of EUR 1,044 million in 2015 and EUR
1,142 million in 2014. In 2015, positive contribution came from the
technical account (with a non-life combined ratio of 94.6% and
positive net inflows from life business) and investments. Going
forward, the synergies achieved through the rationalisation of
products and infrastructure, simplification of the corporate
structure and promotion of the UnipolSai brand are expected to
support performance. This press release relates to rating(s) that
have been published on A.M. Best's website. For all rating
information relating to the release and pertinent disclosures,
including details of the office responsible for issuing each of the
individual ratings referenced in this release, please see A.M.
Best's Recent Rating Activity web page. A.M. Best is the world's
oldest and most authoritative insurance rating and information
source. For more information, visit www.ambest.com. Copyright ©
2016 by A.M. Best Rating Services, Inc. and/or its subsidiaries.
ALL RIGHTS RESERVED. ####