(Finance) – Moody’s confirmed to A3 its opinion on the financial solidity (IFSR) of General and all its main subsidiaries in Italy, France and Germany.
The confirmation at A3, three levels above the rating on Italy’s sovereign debt, explains the rating agency, “reflects the very strong business profile of the group, which benefits from leading positions in its markets in Europe, diversification by business lines and relatively low product risk”.
The rating, continues Moody’s, “also reflects Generali’s good financial profile, which is limited by its exposure to Italian sovereign risk, a circumstance which affects our assessment of the quality of the assets, the adequacy of capital and the financial flexibility of the group” .