The Russian National Reinsurance Company (RNRC) has been given an AAA credit rating with a “stable outlook” by the Russian Analytical Credit Rating Agency (ACRA).
ACRA said the RNRC’s credit rating is based “on its very strong business and financial profiles coupled with high-quality management,” TASS reported.
According to reports this is the first public rating assigned by ACRA on the insurance market, and
the Director of the Financial Institutions Ratings Group, Alexei Bredikhin, told TASS, “several other projects are in progress.”
The RNRC was established last year with the aim of protecting risks for clients impacted by international sanctions, the reinsurance subsidiary is wholly-owned by the Bank of Russia.