18.12.2013 18:34:31
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Press Release: Nationale Suisse receives "A-" Rating (Excellent) with a positive outlook from A.M. Best and increases profit payout ratio
Nationale Suisse / Nationale Suisse receives "A-" Rating (Excellent) with a positive outlook from A.M. Best and increases profit payout ratio . Processed and transmitted by Nasdaq OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
Nationale Suisse has once again received a financial strength rating of "A-" (Excellent) with a positive outlook from A.M. Best. In view of the strong equity base acknowledged by A.M. Best, the insurance company is increasing the spread of the payout ratio of the profit attributable to shareholders to between 40 % and 60 %. A payout ratio of a minimum of 40 % for the 2013 profit will thus be proposed to the upcoming Annual General Meeting.
The rating agency A.M. Best has confirmed the financial strength rating of Nationale Suisse and assigned the international insurance group an "A-" rating (Excellent) with a continuing positive outlook. With this rating, A.M. Best has acknowledged the solid overall operating performance and the strong capitalisation of the Swiss National Insurance Company Ltd, the parent company of the Nationale Suisse group. The rating, however, also takes into account the business profile of Nationale Suisse, which is increasingly oriented towards specialty lines and specific target groups in the private and corporate client segment. This seal of quality is a crucial factor for Nationale Suisse's success in driving forward profitable growth in the specialty lines business at an international level. It attests that Nationale Suisse is in an excellent financial position to meet its ongoing and future insurance obligations.
Higher payout ratio thanks to a strong equity base
The company's continued strong performance acknowledged by A.M. Best is an indication of the robust financial position of Nationale Suisse. This will enable the company to make the most of opportunities for growth and comfortably finance them in part from equity capital. On basis of this, the Board of Directors of Nationale Suisse has now decided to seek a payout ratio of the profit attributable to shareholders of between 40 % and 60 %; previously, a spread of 35 % to 50 % applied. The company will propose to the 2014 Annual General Meeting a payout ratio of a minimum of 40 % of the profit for 2013; in recent years, the effective ratio stood at a minimum of 35 %. "In this way we want to allow the shareholders to have a greater share in the company's success in line with our medium-term ambitions for growth", stresses Hans Künzle, CEO of Nationale Suisse.
Further information
A.M. Best's press release on the rating of Nationale Suisse can be accessed via the following link: www.nationalesuisse.com/rating
Brief profile
Nationale Suisse is an innovative, international and independent Swiss insurance group providing first-rate risk and pension solutions in non-life and life business as well as a growing number of tailored specialty lines products. Consolidated gross premiums came to CHF 1.51 billion in 2012. The Group comprises the parent company and about 20 subsidiaries and branch offices for focused product lines in Switzerland, Italy, Spain, Germany, Belgium, Liechtenstein, Malaysia, Latin America and Turkey. The headquarters of Swiss National Insurance Company Ltd are in Basel. Nationale Suisse is listed on the SIX Swiss Exchange (NATN). On 30 June 2013, the Group employed 1 889 staff (full-time equivalents).
Information Remo Meier Nationale Suisse Investor Relations Steinengraben 41 Phone +41 61 275 22 45 4003 Basel Fax +41 61 275 22 21 Switzerland remo.meier@nationalesuisse.com www.nationalesuisse.com/invest or-relations
Christina Hartmann Nationale Suisse Media Relations Steinengraben 41 Phone +41 61 275 23 40 4003 Basel Fax +41 61 275 22 21 Switzerland christina.hartmann@nationalesuisse.com www.nationalesuisse.com/media- relations
Key dates Publication of the annual report 2013 26.03.2014 Media conference to announce financial results 26.03.2014 at Widder Hotel, Zurich Financial analysts' conference at Widder 26.03.2014 Hotel, Zurich Annual General Meeting, Basel 19.05.2014
Disclaimer and exclusion of liability
The purpose of this press release is to inform the public about certain events or developments arising from the company's business. The information published in this article is not an advertisement, offer or recommendation to engage in transactions involving securities or other products of Nationale Suisse or any other type of transaction. This press release may contain certain forward-looking statements. Even if these forward-looking statements reflect the opinion and expectations of Nationale Suisse, a number of risks, uncertainties and other important factors may lead to actual developments and results differing strongly from the expectations of Nationale Suisse. It is pointed out expressly that the statements and projections contained in this press release are selective in nature. Nationale Suisse provides no guarantee, either explicitly or implicitly, regarding the accuracy and completeness of the statements and forecasts published in this press release. Neither Nationale Suisse nor its executive bodies or senior managers accept any liability for any damage or losses arising directly or indirectly from the use of this press release. Unless otherwise provided by applicable binding law Nationale Suisse is under no obligation to update or amend the statements contained in this press release, be it in response to new information, future events or any other reasons.
Updated post-publication information is available on our website www.nationalesuisse.com. You may find further details and forecasts about the business of Nationale Suisse there.
Press release: http://hugin.info/100296/R/1750636/590112.pdf
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Nationale Suisse via Globenewswire
HUG#1750636
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Nationale Suisse
Steinengraben 41 Basel
WKN: 1081197;ISIN: CH0010811971;
http://www.nationalesuisse.com (END) Dow Jones Newswires
December 18, 2013 12:02 ET (17:02 GMT)- - 12 02 PM EST 12-18-13
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