International credit rating agency Standard & Poor’s (S&P) has revised the outlook of Millî Reasürans’s global financial strength rating from ‘Stable’ to ‘Positive’. This change highlights considerable advancements in the company’s capital base and operational performance, and additionally includes an upgrade of its national scale rating, moving up two levels from ‘trBBB+’ to ‘trA’.
The adjustment stems from improvements in Millî Reasürans Türk Anonim Şirketi’s (Milli Re) equity and operational capabilities, according to S&P. The organization’s report suggests that the ‘Positive’ outlook indicates their forecast of continuous capital adequacy and market position enhancements by Milli Reinsurance over the next couple of years.
Millî Reasürans has significantly boosted its equity, beginning from TL 10.1 billion at the end of 2023 to a substantial TL 16.5 billion by the end of 2024, further climbing to TL 20.6 billion by mid-2025.
Chief Executive Officer of Millî Reasürans, Fikret Utku Özdemir, expressed his views on this achievement, praising the balanced growth and robust risk management strategies adopted in recent times. He emphasized that the international affirmation of their efforts in strengthening capital structure and enhancing technical profitability serves as a significant morale booster for both the Turkish insurance industry and Millî Reasürans. Furthermore, Özdemir affirmed their commitment to fortifying financial resilience and sustaining market leadership, also noting the recent rating upgrade by the international credit rating agency AM Best as further validation of their stable international performance.
