AM Best affirms ratings of German insurer SOVAG
AM Best has affirmed the financial strength rating of B++ (Good) and the issuer credit rating of 'bbb' of SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG. The outlook for both ratings remains stable.
SOVAG's risk-adjusted capitalisation is expected to remain strong, despite some weakening due to recent unfavourable underwriting performance. A more stable position is anticipated in future supported
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