AM Best downgrades its rating of Russian insurers and reinsurers

AM Best ratingIn response to the Russian invasion of Ukraine, AM Best has revised downward the long-term financial strength and credit ratings of Russian Reinsurance Company (Russian Re), Ingosstrakh Insurance Company and GIC Perestrakhovanie.

This downgrade reflects the increased geopolitical, economic, and financial risks to which Russian companies are exposed.

AM Best : revision of the ratings

CompanyFinancial strength ratingLong-term credit rating
PreviousNewPreviousNew
Russian ReB (fair)B- (fair)bb+ (fair)bb- (fair)
Ingosstrakh InsuranceB++ (good)B (fair)bbb (good)bb+ (fair)
GIC PerestrakhovanieB++ (good)B+ (good)bbb (good)bbb- (good)
0
Your rating: None
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