Ingosstrakh OSAO : Life LLC Insurance Company Was Granted the Highest Rating as a Life Insurance Company According to RA Expert Methodology

RA Expert rating agency has raised the reliability rating of Ingosstrakh Life LLC Insurance Company to A++, "Superior level of reliability", with "stable" outlook. According to the methodology used by RA Expert, the A++ rating is given to companies that, in the opinion of the agency, are highly likely to fulfill their obligations even in the periods characterized by material adverse changes of macroeconomic and market indicators. The company earlier had a rating of A+, "very high level of reliability", with the forecast "stable" and the second sublevel. The first time when the rating was assigned to the company was in 2011.

In accordance with the determination of the rating agency, it became possible to upgrade the rating of Ingosstrakh Life LLC Insurance Company to A ++ due to such factors as the deviation of the actual solvency margin from the standard value, stable profitability ratios for assets and equity, high values of liquidity ratios, a low share of the costs of doing business, a low ratio of trade liabilities to the company's balance sheet total.

The reliability, liquidity and diversification of the company's investment portfolio is rated as high: 87.8% of the company's investment accrued to highly liquid assets as of 03.26.2014, and 86.6% on 31.12.2013, and the share of the largest investment amounted to 21.6% and 24.8%, accordingly. As of 01.04.2014, the company's assets amounted to RUB 2,327,477 thou, own funds to RUB 459,874 thou, insurance premiums for 2013 equaled RUB 751,254 thou.

According to Vladimir Chernikov, CEO of Ingosstrakh Life LLC Insurance Company, the assignment of the highest rating under the RA Expert methodology confirms the results of the efforts committed by the company and the correct choice of the development strategy. "We are planning to continue our work on the reinforcement of the company's financial stability, as well as to increase sales while maintaining the same profitability of the business. We lay a special emphasis on corporate insurance, because we are the experts in this area, and we are also a pool partner of Generali Employee Benefits Network, which is our reinsurer, and also due to the development of business sales channels. At the same time, our company's priority has always been the high level of customer service at all the stages of our work, from the conclusion of the contract to the receipt of the insurance payment. The customer oriented nature of Ingosstrakh Life is confirmed by our long-term cooperation with customers and partners," he added.