S&P improved the rating of VTB Insurance to BB-

S&P Global Ratings upgraded the long-term credit rating of VTB Insurance from BB+ to BBB- with stable forecast. The stable forecast shows S&P's opinion that within next 18-24 months the Group's profitability will be sufficient for reduction of pressure on the bank's capitalization rates.   

S&P equated ratings of VTB Insurance and VTB Capital PLC with the ratings of their ultimate owner VTB Bank.
 
Ex-chairman of the board of directors of VTB Insurance Mikhail ZADORNOV in the end of January 2018 announced that the insurer's profit in 2017 may increase by 40%. Profit of VTB Insurance in 2016 also exceeded the profit of 2015 by 32.8%.  

S&P Global Ratings is one of the TOP-3 international rating agencies and is well known mostly as a creator of the American stock index S&P 500. 

VTB Insurance has been in the Russian market since 2000 and is providing insurance services in more than 100 biggest cities of Russia. Based on 2017 results the company is among TOP-5 insurers of the Russian market.


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