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IBI-Rating has determined the financial strength rating of “INSURANCE COMPANY “SALAMANDRA-UKRAINE” PJSC at uaAifr grade
22.10.2015IBI-Rating informs on assigning of the financial strength rating to “INSURANCE COMPANY “SALAMANDRA-UKRAINE” PJSC at uaAifr grade, with a "stable"outlook.
The grade of the financial strength rating of “INSURANCE COMPANY “SALAMANDRA-UKRAINE” PJSC is due to the growth of earned insurance premiums accompanied by the simultaneous improvement of the structure and balance of the insurance portfolio. At the same time, there was a growth in the specific weight of resources of the losses declared but not paid out in the general insurance reserves. There is sensitivity of the insurer to market risk as a result of a significant amount of securities, whose value may fluctuate in the stock market. During the analyzed period there was a persistence of the low specific weight of highly liquid assets in the categories of the assets that represent insurance reserves. Also, the Rating agency notes the lack of debt burden, profitable operations and a low value of the combined loss ratio.
A positive impact on the credit rating may have the following: an increase in the authorized capital of the insurance company, reduced concentration of the insurance portfolio, increased specific weight of highly liquid assets in the categories of the assets that represent insurance reserves. A negative impact on the credit rating may have the following: reduced solvency (liquidity) of the insurance company, increased dependence of the company’s operations on investments in securities of certain issuers, as well as negative factors of development of the Ukrainian insurance market, which could lead to deterioration of the company and its financial performance.
In order to carry out the analytical research the materials provided by “INSURANCE COMPANY “SALAMANDRA-UKRAINE” PJSC were used, including the annual financial statements for 2012-2014 and the Ist half of 2015, target performance indicators for the IInd half of 2015, other necessary internal information as well as the information from public sources, which the Rating agency considers reliable.
Corporate department
For more information please contact:
Press service of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua
The grade of the financial strength rating of “INSURANCE COMPANY “SALAMANDRA-UKRAINE” PJSC is due to the growth of earned insurance premiums accompanied by the simultaneous improvement of the structure and balance of the insurance portfolio. At the same time, there was a growth in the specific weight of resources of the losses declared but not paid out in the general insurance reserves. There is sensitivity of the insurer to market risk as a result of a significant amount of securities, whose value may fluctuate in the stock market. During the analyzed period there was a persistence of the low specific weight of highly liquid assets in the categories of the assets that represent insurance reserves. Also, the Rating agency notes the lack of debt burden, profitable operations and a low value of the combined loss ratio.
A positive impact on the credit rating may have the following: an increase in the authorized capital of the insurance company, reduced concentration of the insurance portfolio, increased specific weight of highly liquid assets in the categories of the assets that represent insurance reserves. A negative impact on the credit rating may have the following: reduced solvency (liquidity) of the insurance company, increased dependence of the company’s operations on investments in securities of certain issuers, as well as negative factors of development of the Ukrainian insurance market, which could lead to deterioration of the company and its financial performance.
In order to carry out the analytical research the materials provided by “INSURANCE COMPANY “SALAMANDRA-UKRAINE” PJSC were used, including the annual financial statements for 2012-2014 and the Ist half of 2015, target performance indicators for the IInd half of 2015, other necessary internal information as well as the information from public sources, which the Rating agency considers reliable.
Corporate department
For more information please contact:
Press service of IBI-Rating
(044) 362-90-84
press(at)ibi.com.ua