Fitch: Moscow Insurance on evolving watch

Fitch Ratings said it has placed Moscow Insurance Co.'s insurer financial strength rating of BB- and national insurer financial strength rating of A+(rus) on rating watch evolving.

The rating action follows the company's announcement of its forthcoming merger with MSK-Standard and MSK Insurance Group and receipt of the consent of the supervisory authorities for this deal.

After the merger, MSK Insurance Group will become the legal successor of all assets and liabilities of Moscow Insurance and MSK-Standard, the agency said, noting that the merger is expected to be signed in Q110.

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