Helvetia Holding AG / CH0466642201
11.10.2024 - 07:00:09AM Best assigns Issuer Credit Rating of 'a+' to Helvetia Swiss Insurance Company Ltd
| Helvetia Holding AG / Key word(s): Rating 11.10.2024 / 07:00 CET/CEST Media release St.Gallen, 11 October 2024 AM Best has assigned a Financial Strength Rating of "A" (Excellent) and a Long-Term Issuer Credit Rating of "a+" (Excellent) to Helvetia Swiss Insurance Company Ltd. The outlook assigned to these Credit Ratings is stable. Based on the assessment of AM Best, the balance sheet strength of Helvetia Swiss Insurance Company Ltd is very strong, underpinned by its risk-adjusted capitalisation at the strongest level, as measured by AM Best's Capital Adequacy Ratio (BCAR), as well as the prudent capital management, conservative investment portfolio, and prudent reserve practices. Further AM Best assesses Helvetia's financial flexibility as excellent and emphasises the strong operating performance, well diversified business model and appropriate risk management of the company. "AM Best's rating reflects the resilience of our balance sheet and our diversified and profitable business model", explains Annelis Lüscher Hämmerli, Group CFO of Helvetia. "This newly obtained rating will support in particular Helvetia's international specialty business". The assigned AM Best Rating is valid for the following entity of the Helvetia Group: Helvetia Swiss Insurance Company Ltd: Issuer Credit Rating "a+" / stable outlook Financial Strength Rating "A" / stable outlook
About the Helvetia Group Helvetia Group, with its headquarters in St. Gallen, has grown since 1858 to become a successful insurance group with over 13,800 employees and more than 7.2 million customers. It has been enabling its customers to seize opportunities and minimise risks for all that time – Helvetia is there for them when it matters. Helvetia is the best partner and is present everywhere that protection needs arise, with insurance, pension and investment solutions from a single source as well as simple products and processes. The insurance group knows the business, from mobile phone insurance and insurance cover for the Gotthard Base Tunnel to the long-term investment of customer assets. Helvetia develops and opens up new business models with enthusiasm and drives forward its own business in a powerful and future-oriented manner. It acts with foresight and responsibility in everything it does: for the benefit of its shareholders, customers and employees as well as its partners, society and the environment. Helvetia is the leading all-lines insurer in Switzerland. With Helvetia Seguros and Caser, the Spain segment is the second pillar of the Group. With the GIAM (German, Italian and Austrian Markets) segment, the company has firmly established market positions in European countries for above-average growth. In the Specialty Markets segment, Helvetia offers tailored special insurance and reinsurance cover worldwide. With a business volume of CHF 11.3 billion, Helvetia generated underlying earnings of CHF 372.5 million and an IFRS net income of CHF 301.3 million in the 2023 financial year. The shares of Helvetia Holding AG are traded on SIX Swiss Exchange. Cautionary note This document was prepared by Helvetia Group and may not be copied, altered, offered, sold or otherwise distributed to any other person by any recipient without the consent of Helvetia Group. The German version of this document is decisive and binding. Versions of the document in other languages are made available purely for information purposes. Although all reasonable effort has been made to ensure that the facts stated herein are correct and the opinions contained herein are fair and reasonable, where any information and statistics are quoted from any external source such information or statistics should not be interpreted as having been adopted or endorsed as accurate by Helvetia Group. Neither Helvetia Group nor any of its directors, officers, employees and advisors nor any other person shall have any liability whatsoever for loss howsoever arising, directly or indirectly, from any use of this information. The facts and information contained in this document are as up to date as is reasonably possible but may be subject to revision in the future. Neither Helvetia Group nor any of its directors, officers, employees or advisors nor any other person makes any representation or warranty, express or implied, as to the accuracy or completeness of the information contained in this document. This document may contain projections or other forward-looking statements related to Helvetia Group which by their very nature involve inherent risks and uncertainties, both general and specific, and there is a risk that predictions, forecasts, projections and other outcomes described or implied in forward-looking statements will not be achieved. We caution you that a number of important factors could cause results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include: (1) changes in general economic conditions, in particular in the markets in which we operate; (2) the performance of financial markets; (3) changes in interest rates; (4) changes in currency exchange rates; (5) changes in laws and regulations, including accounting policies or practices; (6) risks associated with implementing our business strategies; (7) the frequency, magnitude and general development of insured events; (8) mortality and morbidity rates; (9) policy renewal and lapse rates as well as (10), the realisation of economies of scale as well as synergies. We caution you that the foregoing list of important factors is not exhaustive; when evaluating forward-looking statements, you should carefully consider the foregoing factors and other uncertainties. All forward-looking statements are based on information available to Helvetia Group on the date of its publication and Helvetia Group assumes no obligation to update such statements unless otherwise required by applicable law. End of Media Release |
| Language: | English |
| Company: | Helvetia Holding AG |
| Dufourstrasse 40 | |
| 9001 St.Gallen | |
| Switzerland | |
| E-mail: | media.relations@helvetia.ch |
| Internet: | www.helvetia.com |
| ISIN: | CH0466642201 |
| Valor: | 46664220 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2006455 |
| End of News | EQS News Service |
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