The rating agency S&P Global Ratings (S&P) has upgraded the rating of Helvetia Group to 'A+' and assigned a stable outlook. The positive rating action by S&P recognises Helvetia's strong business position, where the European foothold has been further strengthened by the recent acquisition of Spanish insurance group Caser. The Group's focus on solid capitalisation as well as Helvetia's sound underlying profitability, particularly in the non-life business, further contributed to the assessment.
Annelis Lüscher Hämmerli, Group CFO at Helvetia, is pleased with the S&P decision: "The upgrade reflects Helvetia's ambition to continuously expand its strategic positioning with the segments Switzerland, Europe and Specialty Markets while maintaining a focus on strong capitalisation levels." Adding further: "The rating acknowledges, amongst others, also the Group's ability to integrate large operations swiftly and it underlines Helvetia's proven underwriting capabilities."
The rating upgrade benefits the following rated entities of Helvetia Group:
Helvetia Swiss Life Insurance Company Ltd – to 'A+'
Helvetia Swiss Insurance Company Ltd – to 'A+'
Helvetia Assurances SA – to 'A+' on a guaranteed basis
Helvetia Swiss Insurance Company in Liechtenstein Ltd – to 'A' being highly strategic important to the Helvetia Group