The international rating agency, Standard & Poor's (S&P), yesterday renewed and confirmed the "A" rating for the UNIQA Group, including a stable outlook.
The significant competitive position as one of the market leaders in Austria as well as the impressive sales capacities were viewed by S&P as important rating factors and strengths of the UNIQA Group. The major and successful bank assurance sales channel via Raiffeisen banks was also positively emphasised in this respect. The rating agency also considered it an asset that UNIQA is currently achieving organic growth in Central and Eastern Europe that exceeds the market average.
S&P assumes in its evaluation that the current efficiency programme, as well as the previously completed programmes, will drive further improvements in the operational performance of the UNIQA Group and expects higher profits already as of 2010.
In addition, S&P expects that the UNIQA Group will succeed in holding its strong competitive position in Austria and that growth will continue in the Central and Eastern European companies of the Group. With regard to developments in Eastern Europe, S&P also recognises the major significance of the partnership with the Raiffeisen banking group.
S&P's assessment of the financial strength of the UNIQA group was based on the - also unchanged - ratings of the UNIQA core companies UNIQA Sachversicherung AG ("A"), UNIQA Personenversicherung AG ("A") and UNIQA Re AG ("A") as well as the holding company UNIQA Versicherungen AG ("A-"). S&P also confirms a stable outlook for all of these companies.