S&P changes Energogarant view

S&P said it revised its outlook to positive from stable on Energogarant JSIC.

The agency affirmed the BB- long-term issuer credit rating on Energogarant.

“The outlook revision reflects our expectation that Energogarant will continue improving its underwriting profitability during the next 12 months,” S&P said in a news release.

“We note that the company's combined (loss and expense) ratio strengthened to 101.3% in 2017 from 105.5% on average over 2013-2016.

“In our view, further improvement in underwriting results will likely stem from the expected gradual deregulation of tariffs for obligatory motor third-party liability insurance (OMTPL) by the end of 2018.”

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