AM Best has revised the outlooks to positive from stable and affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of 'bbb-' (Good) of Dunav-Re a.d.o. (Dunav-Re) (
The ratings reflect Dunav-Re's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The revision of the outlooks to positive from stable primarily reflects Dunav-Re's record of robust operating performance and the expectation for this to continue.
AM Best expects Dunav-Re to report good underwriting profitability in the short to medium term, in line with its recent experience. The company's international business has grown rapidly, and although it is performing well, its performance is marginally lower than the business sourced domestically. Dunav-Re's results remain susceptible to potential volatility due to the company's exposure to catastrophe events.
Dunav-Re's risk-adjusted capitalisation remains at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), supported by capital contributions from its ultimate parent,
Dunav-Re is a multiline reinsurer operating from within
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