S&P: Moscow Re unaffected

Standard & Poor's said its ratings and outlook on Moscow Reinsurance Co. (B+/stable, ruA+) are unchanged following Russia-based Insurance Group's acquisition of 100% of Moscow Re shares.

The agency said it expects that the new shareholders will not take actions that will adversely affect the financial strength of the company, in particular with regard to the quality of Moscow Re's investments and capitalization, which are key rating factors for the company.

The ownership may have a potential positive impact depending on the strategic role of Moscow Re in the group and support from the new shareholders, the agency noted.

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