RUSSIA: A.M. Best Places Ratings of Unity Reinsurance Company Ltd Under Review With Negative Implications

A.M. Best has placed under review with negative implications the financial strength rating of B+ (Good) and the issuer credit rating of "bbb-" of Unity Reinsurance Company Ltd (Unity Re) (Russia).

The rating action follows the recent announcement that the board of directors of SPAO RESO Garantia (RESO Garantia) agreed on 28 July 2016 to acquire Unity Re for RUB 1.6 billion (approximately USD 25 million).

RESO Garantia is currently Unity Re's sister insurance company and forms a part of the RESO Group, which comprises insurance, motor, banking and leasing businesses in Russia and its neighbouring countries. Read the full story
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