S&P upgrades Rosgosstrakh

S&P said it raised the ratings on PJSC Rosgosstrakh to BB- from B+.

The outlook is stable.

The agency said it believes Rosgosstrakh's capital position has further improved throughout 2018, thanks to a positive technical performance and its investments' improved credit quality.

Rosgosstrakh's motor portfolio posted positive technical results in 2018, following segmentation of the insurance portfolio to focus on lines that are more profitable, S&P said.

The stable outlook reflects an expectation that Rosgosstrakh will continue to maintain strong capital over the next 12 months, while more stringent underwriting practices will gradually reduce earnings and capital volatility, the agency said.

© 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.