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IBI-Rating has affirmed the credit rating of «SALAMANDRA-UKRAINE INSURANCE COMPANY» PJSC at uaВВВ grade

12.04.2016
Rating agency IBI-Rating informs on the affirmation of the credit rating of «SALAMANDRA-UKRAINE INSURANCE COMPANY» PJSC at uaВВВ grade, with a «stable» outlook.

The Insurer’s affirmed credit rating is due to its high performance indicators, as well as its acceptable structure of assets and liabilities. Also it is necessary to note the diversification of the insurance portfolio by major insurers. The Insurer’s sensitivity to market risk arises from the significant amount of securities whose value can fluctuate in the stock market.

Rating agency IBI-Rating notes the lack of debt burden, but despite the low profitable activity, the value of the combined loss indicator is at a high level. IBI-Rating currently sees no factors that may lead to increasing of the credit rating grade of «SALAMANDRA-UKRAINE INSURANCE COMPANY» PJSC in the short term perspective.

Downgrading of the credit rating is possible in the event of reduction of solvency (liquidity) of the insurance company, increased dependence of the Insurer on investments in securities of certain issuers, a further increase of the Insurer’s operating costs and its combined loss indicator, as well as adverse factors in development of the insurance market of Ukraine, which can lead to deterioration of the Company’ operations and its financial indicators.

In order to carry out the analytical research materials obtained from «SALAMANDRA-UKRAINE INSURANCE COMPANY» PJSC were used, including: the annual financial statements for 2013-2015, other necessary internal information, as well as the information from the public sources, which the Rating agency considers reliable.

Finance department
For more information please contact:
Press service of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua