AM Best Affirms Credit Ratings of SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” (Excellent) of SIAT-Società Italiana Assicurazioni e Riassicurazioni p.A. (SIAT) (Italy), a subsidiary of Unipol Assicurazioni S.p.A. (Unipol). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect SIAT’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings factor in SIAT’s importance to, and integration into the operations of Unipol, as well as AM Best’s expectation that Unipol would provide its subsidiary with prompt and sufficient financial support, should it be needed.
SIAT’s Best’s Capital Adequacy Ratio (BCAR) assessment was at the very strong level at year-end 2025. AM Best expects the risk adjusted capitalisation as measured by BCAR to remain, at least, at the very strong level prospectively. SIAT maintains a strong liquidity profile, with liquid investments accounting for approximately 143% of net technical liabilities at year-end 2025. Partially offsetting factors to the balance sheet strength include the company’s investment concentration in Italian government bonds and its dependence on reinsurance to write high-value risks.
