RUSSIA: national rating of SiV Life confirmed at ruAA
SiV Life refers to the first size class, but at that the company keeps rather low positions among local life insurers. According to the Bank of Russia, in the first half year the company took 14th place in terms of GWP among life insurers and its GWP decreased by 9.1% y-o-y. The portfolio structure has moderately high diversification - from January to June the largest insurance type generated 45.3% of the company's premiums.
Among positive rating factors the agency noted the company's well-diversified client base (the share of the biggest client in the first half year amounted to 2.1% of GWP and the share of 5 biggest clients reached 7%), as well as reliability of reinsurance protection.
According to Expert RA, the assets of the insurer amounted to RUB 35.2 billion as of 30.06.2018, with equity of RUB 1.9 billion, charter capital of RUB 240 million, and GWP of RUB 2.8 billion.
*EUR 1 = RUB 72.9921 (30.06.2018)