AM Best assigns credit ratings to Euro Accident Livförsäkring AB – InsuranceNewsNet

AM Best assigned a financial strength rating of A- (Excellent) and a long-term credit rating of “a-” (Excellent) to Euro Accident Livförsäkring AB (Euro Accident) (Sweden). The outlook attributed to these Credit Ratings (ratings) is stable. The majority owner of Euro Accident is Impilo ABa Swedish investment firm specializing in Nordic healthcare investments.

The ratings reflect Euro Accident’s balance sheet strength, which AM Best assesses as strong, as well as adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).

Euro Accident’s highest risk-adjusted level of capitalization, as measured by Best’s capital adequacy ratio (BCAR), together with its prudent and liquid investment portfolio, prudent reserves and Robust reinsurance collectively contribute to an overall strong balance sheet assessment. AM Best expects the company’s risk-adjusted capitalization to remain prospectively at the highest level, underpinned by good earnings generation and taking into account projected dividend payments to serve the few 618 million Swedish crowns debt held by one of the insurer’s intermediate parent holding companies.

Euro Accident recorded strong results in 2020 and 2019, which was its first full year of operation in its current capacity as a Swedish-domiciled insurance company. In 2020, the company achieved a combined ratio of 92.6% (2019: 96.2%) (as calculated by AM Best) and a return on equity of 22.9% (2019: 12.6%) . The improved performance in 2020 partly reflects a reduction in claims frequency, as the COVID-19 pandemic led to lower health insurance utilization.

Euro Accident was established as a Swedish agency in 1996 and, through its role as an agency and later as an insurer, it has a long-established position as a provider of life and health insurance in its market. principal of Sweden where he enjoys strong relationships with brokers and partners. Additionally, the business has expanded to Denmark in 2018 and at Norway in 2020 and anticipates significant growth in these markets. The expansion should benefit the company’s business profile by increasing its geographic diversification; however, it carries a moderate level of operational and execution risk.

AM Best considers that Euro Accident’s ERM is developed and adapted to the company’s risk profile and operational scope.

This press release relates to credit ratings that have been published on AM Best’s website. For all ratings information relating to the release and relevant disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please visit AM Best’s Recent Ratings Activity webpage. For more information on the use and limitations of credit rating opinions, please see Best’s Guide to Credit Ratings. For more information on the proper use of Best’s Credit Scores, Best’s Performance Ratings, Best’s Preliminary Credit Ratings, and AM Best’s press releases, please see the Guide to Proper Use of Best’s Best ratings and reviews.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Based at United Statesthe company does business in more than 100 countries with regional offices in London, amsterdam, dubai, hong kong, Singapore and Mexico City. For more information, visit

Copyright © 2022 by AM Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

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Victoria Ohorodnyk
Associate Director, Analytics

+31 20 308 5432

[email protected]

Christopher Sharkey
Manager, Public Relations

+1 908 439 2200 ext. 5159

[email protected]

dr. Mathilde Jakobsen
Director, Analytics

+31 20 308 5427

[email protected]

Jim Peavy
Director, Communications

+1 908 439 2200 ext. 5644

[email protected]

Source: AM Best

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