Sava Re dd : Credit Rating of Sava Reinsurance Company Remains Unchanged
January 18, 2012 at 02:25 pm IST
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Wednesday, 18/01/2012
Pursuant to the Rules of the Ljubljana Stock Exchange,
d.d., Ljubljana and the Market in Financial Instruments
Act, Sava Reinsurance Company d.d., Dunajska 56, 1000
Ljubljana, hereby announces the following:
As announced last month, rating agency Standard &
Poor's reviewed the sovereign credit ratings of euro
zone members that had been placed on CreditWatch. Slovenia
was downgraded from AA¬- to A+. A sovereign rating
downgrade may automatically result in a downgrade of
majority state-owned companies, on which these companies
have no influence.
Rating agency Standard & Poor's has confirmed the
unchanged A- credit and financial strength rating for Sava
Reinsurance Company. Sava Reinsurance Company, however, no
longer holds a stable outlook, but a negative one, like
Slovenia. Hereafter, the Company no longer is on
CreditWatch.
This announcement will be available on the Company's
website at www.sava-re.si, at least five years from the
date of the announcement.
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Ce noodl a été diffusé par Pozavarovalnica Sava dd et initialement mise en ligne sur le site http://www.sava-re.si. La version originale est disponible ici.
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Pozavarovalnica Sava dd (or Sava Reinsurance Plc), also known as Sava Re dd, is a Slovenia-based reinsurance undertaking. It operates as a parent company of Sava Re Group, which comprises direct insurance and pension undertakings. The Companyâs activities are divided into four segments: Reinsurance operations, Non-life insurance operations, Life insurance operations and Other business segment. The Reinsurance operations segment comprises treaty and facultative arrangements for intra-group clients and insurance and reinsurance partners worldwide. The Non-life insurance operations segment supports local markets with non-life insurance products and customer oriented services. The Life insurance operations segment is focused on life protection and saving products, including pension schemes. The Other business segment comprises operations of the Companyâs non-insurance subsidiaries. Sava Re Group operates through subsidiaries in Slovenia, Croatia, Serbia, Macedonia, Montenegro and Kosovo.