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AM Best downgrades its rating of Russian insurers and reinsurers
March 11, 2022
In 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
| Company | Financial strength rating | Long-term credit rating | ||
|---|---|---|---|---|
| Previous | New | Previous | New | |
| Russian Re | B (fair) | B- (fair) | bb+ (fair) | bb- (fair) |
| Ingosstrakh Insurance | B++ (good) | B (fair) | bbb (good) | bb+ (fair) |
| GIC Perestrakhovanie | B++ (good) | B+ (good) | bbb (good) | bbb- (good) |
