RUSSIA: A.M. Best Assigns Credit Ratings to Ingosstrakh Insurance Company SPAO

A.M. Best has assigned a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of "bbb-" to Ingosstrakh Insurance Company SPAO (Ingosstrakh) (Russia). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings of Ingosstrakh reflect its solid risk-adjusted capitalisation, strong business profile in Russia's insurance market and resilient performance track record. These positive rating factors are partially offset by elevated asset risk, driven by the heightened financial system risk in Russia, and generally challenging conditions in the local insurance market. Read the full story

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