Standard & Poor`s Confirmed The Rating Of Ingosstrakh Insurance Company on the BBB- Level, "Stable" Forecast
The international rating agency Standard & Poor`s has confirmed the long-term credit rating of the contractor and financial stability of Ingosstrakh Insurance Company on the BBB- level, with “Stable” forecast. The company’s rating on a national scale is ruAA+.
Standard & Poor`s gave Ingosstrakh Insurance Company a long-term contractor and financial stability credit rating for the first time in 2004. At that time, there were over 50 Standard&Poor’s ratings given to national corporations and financial institutions. Ingosstrakh Insurance Company became one of four leaders that have the ratings on the BB and ВВ+ level, including Vneshtorgbank, Transneft and Lukoil, and became one of the first Russian insurers to receive S&P rating. At that time, most Russian insurance companies had evaluations of the national rating institutions only. A year later, S&P changes its forecast on Ingosstrakh Insurance Company’s rating from “Stable” to “Positive”, in 2006 it raises the rating to BB+, and in 2007 – to BBB-. At that time, Ingosstrakh Insurance Company became the only Russian insurer that received such a high rating from Standard & Poor`s. The company still preserves this high rating.
Just like before, the insurance company preserves high competitive advantage, supported by such factors as a 65-year work experience in the market, brand recognition, an extensive sales network and relatively low acquisition costs.
In accordance with the S&P policy, the agency does not spread official messages in mass media if the company’s rating is confirmed. According to Viktor Nikolsky, Credit Analyst of the International Rating Agency Standard & Poor`s, “the current ratings of Ingosstrakh Insurance Company reflect good competitive position of the company in the Russian market (ratings on liabilities in foreign currency: ВВВ/Stable/А-2; ratings on liabilities in the national currency: ВВВ/Stable/А-2; ratings on the national scale: ruAAA), positive work history of its management team, as well as adequate indicators of operational activity and capitalization. Along with these positive factors, account is taken of the still high level of industry and country risks, acceptable quality of investment portfolio and acceptable financial flexibility of Ingosstrakh Insurance Company.
It should be noted that besides the S&P rating, Ingosstrakh Insurance Company also has the highest reliability rating A++ of the Expert RA Russian rating agency, which has been given to the insurer annually since 2002.
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Ingosstrakh Insurance Company
+7 (495) 234-60-03, +7 (499) 978-80-92
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