S&P revises Russian insurers to positive

S&P said it revised its outlooks on OJSC Sogaz, Ingosstrakh Insurance Co. and RESO-Garantia to positive from stable.

At the same time, the agency affirmed the ratings on all three companies.

S&P said the actions follow the upgrade of Russia on Feb. 23.

The agency said that while it considers that the operating environment for Russian insurers will remain challenging this year, mainly due to still-high country risks and uncertainties in the performance of obligatory motor third-party liability insurance business, S&P projects that the Russian property/casualty insurance sector will be profitable overall in 2018, mostly thanks to corporate lines.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.