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

11.10.2016
Rating agency IBI-Rating informs on affirming of the credit rating of «SALAMANDRA-UKRAINE» INSURANCE COMPANY» PrJSC at uaВВВ grade, with a «stable» outlook.

The affirmed rating grade of the Insurer is due to an acceptable structure of assets and liabilities. Also, diversification of the insurance portfolio by major policyholders should be noted. At the same time, the Insurer is sensitive to the market risk as a result of a significant amount of securities, whose value may fluctuate in the stock market. Rating agency IBI-Rating notes the absence of debt burden, as well as low profitability and high value of the combined loss ratio.

IBI-Rating currently sees no factors that may lead to upgrading of the credit rating of «SALAMANDRA-UKRAINE» INSURANCE COMPANY» PrJSC in the short term. Downgrading of the credit rating is possible in the event of decline in solvency (liquidity) of the insurance Company, increased dependence of the Insurer’s activity on investments in securities of certain issuers, further increase in operating expenses, increased combined loss ratio, as well as negative factors of development of the insurance market of Ukraine, which may lead to deterioration of the Company activities and its financial performance. In order to conduct the analytical research the materials provided by «SALAMANDRA-UKRAINE» INSURANCE COMPANY» PrJSC have been used, including: annual financial statements for 2013-2015 and 6 months of 2016 , other necessary internal information, as well as the information from the public sources, which the Rating agency considers credible.

Financial Department.
For additional information please contact:
Press office of IBI-Rating
(044) 362-90-84 press(at)ibi.com.ua