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S&P revises outlook on Ingosstrakh ratings to positive

S&P Global Ratings has revised the outlook on Ingosstrakh Insurance Company's ratings from 'stable' to 'positive' in the wake of improvements in the insurance company's investment portfolio. The counterparty credit rating and the financial viability rating are affirmed at 'BB+', Ingosstrakh informed.

The rating action in relation to the insurance company was taken after the credit rating of the Russian Federation was raised on February 23, 2018 (Russia's sovereign ratings on foreign currency-denominated obligations were raised to 'BBB-'/A-3 owing to a prudent economic policy and improvements in the monetary policy transmission mechanism, with a stable outlook). It follows similar rating actions in relation to other Russian banks and companies.

Ingosstrakh Insurance Company (tax number: 7705042179) has been operating in the international and domestic market since 1947. The company is a leader among Russian insurance companies in terms of premiums in the segment of voluntary insurance other than life insurance.

Ingosstrakh Insurance Company is entitled to provide all kinds of property insurance services, VHI, accident and disease insurance services provided for by article 32.9 of the federal law "Concerning the Organization of Insurance in the Russian Federation", as well as the reinsurance services. The company is present in 149 cities and communities of Russia. The insurer's representative offices and subsidiaries are active in the CIS and other foreign countries.

"AK&M", 13.03.2018 18:48


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