The rating agency S&P Global Ratings (S&P) has affirmed the 'A' rating with a positive outlook for Helvetia Group. The valuation by S&P reflects Helvetia's strong business position, the successful takeover of the Spanish insurance group Caser and its financing, which contributes to Helvetia's solid capitalization. Moreover, S&P rates Helvetia's underlying profitability as good despite the effects of COVID-19 on the investment result and the current claims burden in the non-life business.
"With the unchanged rating and the confirmed positive outlook, S&P recognizes that Helvetia is well equipped for the future despite the challenging first half of 2020", comments Annelis Lüscher, CFO at Helvetia. "Furthermore, the rating acknowledges the strategic importance of the Caser takeover and its successful financing."