Fitch has revised the outlook for Generali and its strategic subsidiaries from negative to stable. At the same time, the agency confirmed the financial strength (Insurer Financial Strength, Ifs) of Generali and its subsidiaries at 'A-' and the long-term Idr rating (Issuer Default Rating) at 'BBB+'.
This was communicated by the agency which specifies that the decision follows the revision of Italy's outlook by Fitch on April 25th. The group's long-term rating, explains Fitch, “is heavily influenced by the group's exposure to Italian sovereign debt. This exposure represents a large concentration risk and a potential source of volatility for capital”.
