Best, Affirms

A.M. Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a” of N.V. Univé Her (Univé Her) (Netherlands), a wholly owned subsidiary of Coöperatie Univé U.A. (Univé Group), a mutual insurance group domiciled in the Netherlands.

25.05.2017 - 14:34:52

A.M. Best Affirms Credit Ratings of N.V. Univé Her. The outlook of these Credit Ratings (ratings) remains stable.

Univé Her’s risk-adjusted capitalisation remains very strong, although the company’s exposure to catastrophe losses subjects its balance sheet to potential volatility. A.M. Best expects Univé Her’s capital position to remain at an excellent level over the longer term due to its ability to retain profits in more benign years. Furthermore, the company benefits from extensive capital buffers at the holding company level. A.M. Best considers that a well-defined capital allocation policy at Univé Group, established in 2015 as part of the implementation of Solvency II, strengthens capital governance throughout the group.

Univé Her has demonstrated improved risk management practices following underwriting losses reported in 2013 , that were due to an unusually high frequency of fire claims and one large natural catastrophe. In A.M. Best’s view, the company’s operating performance will continue to be volatile due to the nature of the business underwritten. However, Univé Her benefits from a well-established footprint in the Netherlands, given its unique relationship with the Univé mutuals, and the company carefully monitors its peak risk exposures and retrocession coverage. Univé Her in 2017 started to reinsure various product lines from N.V. Univé Schade (Univé Schade), with no retained risk being held with Univé Her.

The 12 Univé mutual entities are members of Coöperatie Univé U.A., the ultimate holding company of the Univé Group. These entities are regional mutual property insurers that combined have a good market position in the Netherlands. Univé Her, Univé Schade and Univé Services B.V. are the three operating subsidiaries of Coöperatie Univé U.A. Univé Schade provides commercial and personal insurance products, and Univé Services B.V. provides services to each of the other two subsidiaries. Univé Her is the group’s reinsurer of property risks. All underwriting income is originated by the mutual companies, which individually retain a portion of property risk and transfer the rest to Univé Her.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit

Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.


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