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