A.M. Best Company

01/17/2025 | Press release | Distributed by Public on 01/17/2025 08:52

AM Best Affirms Credit Ratings of SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A.

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JANUARY 17, 2025 09:48 AM (EST)

AM Best Affirms Credit Ratings of SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A.

CONTACTS:

Andrea Porta
Financial Analyst
+31 20 808 1700
[email protected]

Jose Berenguer, CFA
Associate Director, Analytics
+31 20 808 2276
[email protected]
Christopher Sharkey
Associate Director, Public Relations
+1 908 882 2310
[email protected]

Al Slavin
Senior Public Relations Specialist
+1 908 882 2318
[email protected]

FOR IMMEDIATE RELEASE

AMSTERDAM - JANUARY 17, 2025 09:48 AM (EST)
AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A. (SIAT) (Italy), a subsidiary of Unipol Assicurazioni S.p.A. (Unipol Assicurazioni). The outlook of these Credit Ratings (ratings) is stable.

The ratings reflect SIAT's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.

The ratings also consider SIAT's strategic importance to and integration within Unipol Assicurazioni, with SIAT benefiting from rating enhancement as a result of AM Best's expectation that financial support will be provided to it, if needed.

On 31 December 2024, SIAT's former parent, UnipolSai Assicurazioni S.p.A., merged by incorporation into Unipol Assicurazioni (previously known as Unipol Gruppo S.p.A.), with the latter becoming the new parent of SIAT.

This press release relates to Credit Ratings that have been published on AM 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 AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.