On October 30th, 2020 AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” of UnipolRe Designated Activity Company (UnipolRe) (Ireland). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect UnipolRe’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
UnipolRe’s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Risk adjusted capitalisation is supported by a low level of underwriting leverage and a conservatively invested asset portfolio. AM Best expects the company’s risk-adjusted capitalisation to remain at the strongest level over the medium term.