26.11.2019

Standard & Poor’s: UNIQA Rating Put On CreditWatch Positive

-->
This press release has: 1 Document

Short text (275 Characters)Plain text

Due to UNIQA’s announcement on Nov. 19, 2019, that it is examining a potential merger of "UNIQA Insurance Group AG" with "UNIQA Österreich Versicherungen AG" and "UNIQA International AG" Standard & Poor’s announced to place UNIQA on CreditWatch positive.

Press release (1020 Characters)Plain text

In September S&P affirmed their 'A-' long-term issuer credit and financial strength ratings on UNIQA's operating holding company UNIQA Insurance Group AG. Due to UNIQA’s announcement on Nov. 19, 2019, that it is examining a potential merger of "UNIQA Insurance Group AG" with "UNIQA Österreich Versicherungen AG" and "UNIQA International AG" Standard & Poor’s announced to place UNIQA on CreditWatch positive. If the company receives shareholder and regulatory approval to merge the entities, S&P expects to upgrade UNIQA Insurance Group AG by one notch.

Main reasons:

  • Standard & Poor’s sees the potential to equalize the ratings on UNIQA Insurance Group AG with the ratings on the group's core operating subsidiary UNIQA Österreich Versicherungen AG.
  • Standard & Poor’s expects that the merger would have only very limited operational impact on the group's balance sheet strength, while UNIQA would streamline its corporate structure and group governance process.

UNIQA Group
The UNIQA Group is one of the leading insurance groups in its core markets of Austria and Central and Eastern Europe (CEE). Around 20,000 employees and exclusive sales partners serve over 10.1 million customers in 18 countries. UNIQA is the second-largest insurance group in Austria with a market share of more than 21 per cent. UNIQA operates in 15 markets in the CEE growth region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, the Czech Republic, Hungary, Kosovo, Macedonia, Montenegro, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. The UNIQA Group also includes insurance companies in Switzerland and Liechtenstein.

Get all contents of this news as .zip: Direct download Save to Lightbox

Documents

  • .PDF | 124,6 KB

Contact

Gregor Markus Bitschnau, Konzern-Pressesprecher
 
Untere Donaustraße 21
1029 Wien
Tel: +43 1 211 75-3440
Mobil: +43 664 889 155 64
Fax: +43 1 211 75-3619

(. )

Measures Size
Original x
Media 1200 x
Small 600 x
Custom x

Press Release Standard & Poor's

.PDF 124,6 KB