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20/03/2017
20:12
RAEX upgrades Otkritie Life Insurance

On March 17, 2017, RAEX (Expert RA) Rating Agency raised the reliability rating of Otkritie Life Insurance to 'A+' (II), with a 'stable' outlook. The company's previous rating was 'A+', sub-level 3, with a stable outlook, the agency informed.

The positive rating drivers include a high return on equity ratio, a low share of business expenses, a high level of adjusted net insurance liquidity, etc.

The rating is constrained by low diversification of the insurance portfolio, high dependence on the principal partner bank, low geographical diversification of business activities and other negative factors.

Otkritie Life Insurance specializes in the investment life insurance segment. According to the Bank of Russia, in 2016, Otkritie Life Insurance ranked 8th in terms of life insurance premiums. According to RAEX (Expert RA), as of September 30, 2016, the insurance company's assets amounted to RUB 8 billion, equity capital was RUB 476.8 million, authorized capital was RUB 312 million. For the 9-month period in 2016, the company earned RUB 4.4 billion in insurance premiums.


"AK&M", 20.03.2017 11:44

 

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