(Alliance News) - Revo Insurance Spa announced Tuesday that S&P Global Ratings has raised its rating outlook from stable to positive and simultaneously confirmed its BBB+ rating.

The upgraded outlook revision takes effect June 26 and reflects the company's analysis of its financial position and results.

In particular, the company explains, S&P points out that the positive outlook reflects "Revo's ability to rapidly diversify business lines, while maintaining a leading position in the Bonds business; the Company's balance sheet strength and significant profitability in the face of strong volume growth; and its prudent approach to risk reinsurance policy and investment allocation."

In addition, the upward revision of the outlook from stable to positive "confirms the process of improving the creditworthiness of the Revo Group, whose financial strength had been raised from BBB to BBB+ on December 6, 2021, and is a prerequisite for a possible rating improvement in the next 12-24 months."

Alberto Minali, chief executive officer of Revo Insurance, commented, "The improvement in the outlook and the confirmation of the rating by S&P certify once again the credibility of our ambitions, corroborating the effectiveness of Revo's positioning as a reference operator in special risks and parametric risks alongside SMEs and professionals. Rising profitability and the ability to diversify the business, combined with a targeted investment policy, confirm the soundness of our business plan and the accurate execution of our strategic objectives."

Revo Insurance's stock on Monday closed at par at EUR8.54 per share.

By Chiara Bruschi, Alliance News reporter

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