Russia: FITCH affirms RNRC IFS at BBB-, positive outlook

FITCH Ratings has affirmed RNRC (Russian National Reinsurance Company) Insurer Financial Strength (IFS) rating at 'BBB-'with a Positive Outlook.

According to the report of FITCH the rating decision was made based on RNRC's strong capitalization and strong risk-adjusted capital position of the Central Bank of Russia, the sole owner of RNRC. The rating and Outlook continue to mirror Russia's Long-Term Local -Currency Issuer Default Rating (IDR) and reflect strong parental support available to RNRC and its exclusive position in the local reinsurance sector underpinned by regulation.

RNRC was founded in August 2016 pursuant to the Federal Law N363 d/d July 3, 2016 on amendment of the law "On insurance business in Russia" based on the decision of its sole shareholder - The Central Bank of Russia. The paid charter capital is RUB 21.3 billion. Reinsurance license PS N 4351 d/d 12.10.2016. ACRA rating AAA (RU), stable forecast. RNRC is the leader of the Russian inward reinsurance market with GWP of RUB 7.7 billion. RNRC's market share based on 2017 result is 22%.





Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

Stefan STAVROSITU appointed Sales Director of GROUPAMA's Romanian unit

Groupama Asiguraari, the Romanian arm of the French group and of the leading players on he ocal market, has announced the appointment of Stefan STAVROSITU as National Sales Director, replacing Julien RAMILLION who, after holding this position for four years, will receive other responsibilities.

08.08.2018

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all