13 October 2014 Insurance

AM Best revises Generali’s outlook

Rating agency AM Best has upgraded the Generali’s outlook to stable from negative following the insurer’s solid operating performance, strong business position and improving risk-adjusted capitalisation.

The rating agency also affirmed Generali’s financial strength rating of A (Excellent).

“Offsetting rating factors include the sensitivity of the group’s risk-adjusted capitalisation to financial market volatility and profitability pressures arising from the challenging macro-economic environment in its key markets. The revised outlook reflects the stabilisation of the macro-economic and financial environment of Italy, which remains Generali’s core market, and the ongoing successful execution of Generali’s strategic plan following a senior management change in 2012,” said AM Best.

It added that challenging market conditions are likely to prevail in Generali’s core European markets, which means that premium revenue is expected to remain flat, as Generali focuses on improving technical profitability.


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More on this story

Insurance
5 December 2023   Pricing momentum now ‘well past its peak,’ still underpins ‘robust underwriting results’.
Insurance
29 November 2023   Low layers and aggregate covers for earnings protection are off the table mid-term.
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24 November 2023   Tight capacity and uncertainties looming over fronting market remain headwinds.

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