AM Best Comments on Credit Ratings of UnipolSai Assicurazioni S.p.A. and SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A. Following Proposed Merger Announcement
Summary
AMSTERDAM--(BUSINESS WIRE)--AM Best has commented that the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” (Excellent) of UnipolSai Assicurazioni S.p.A. (UnipolSai) (Italy) and its subsidiary, SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A. At the moment, Unipol Gruppo owns, directly and indirectly, 85.2% of UnipolSai, and is the largest shareholder with minority stakes in two Italian banks, BPER Banca S.p.A. and Banca Popolare di Sondrio S.p.A. AM Best does not anticipate that UnipolSai’s credit profile will be impacted materially by this transaction based on the information currently available. However, AM Best will continue to monitor the progress of the merger in order to evaluate further the impacts of the proposed transaction as details are finalised. 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.