Fitch affirms Rossiya Insurance

Fitch Ratings said it affirmed Rossiya Insurance Co.'s insurer financial strength rating of B+ and national insurer financial strength rating of A-(rus), and removed the ratings from Rating Watch negative.

The outlook is stable.

The resolution of the watch follows the successful completion of a RUR1 billion share issue that had been temporarily suspended by Russia's Federal Financial Markets Service in December, Fitch said.

The agency said it believes that Rossiya's capital adequacy is now closer to that expected for the current rating level. However, Fitch noted that a rapid pace of premium growth in 2009 has the potential to outstrip the company's ability to maintain capital at a level commensurate with its current rating.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.