Generali: Moody's upgrades credit rating
(CercleFinance.com) - Moody's announced on Friday that it had upgraded the financial strength rating (IFSR) of the Italian insurance group Generali to "A3" from "Baa1".
The agency says that its decision is thanks to the improvement of the insurer's profile, whose diversification it considers capable of protecting it against a number of unfavourable economic scenarios.
Generali has made significant progress in improving its risk profile, particularly in life insurance where the group has a much stronger presence than other European peers, Moody's says.
It has a "stable" outlook for this rating.
On the Milan stock exchange, Generali shares were down 0.9% at the end of the morning. They have now fallen over 10% over the past month.
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The agency says that its decision is thanks to the improvement of the insurer's profile, whose diversification it considers capable of protecting it against a number of unfavourable economic scenarios.
Generali has made significant progress in improving its risk profile, particularly in life insurance where the group has a much stronger presence than other European peers, Moody's says.
It has a "stable" outlook for this rating.
On the Milan stock exchange, Generali shares were down 0.9% at the end of the morning. They have now fallen over 10% over the past month.
Copyright (c) 2022 CercleFinance.com. All rights reserved.