Fitch Changes Outlook to Positive for Three Belarusian Insurers

These are insurance companies such as the Belarusian Republican Unitary Insurance Company “Belgosstrakh”, the Republican Unitary Enterprise “Belarusian National Reinsurance Organization” and the Belarusian Republican Unitary Enterprise of Export-Import Insurance “Eximgarant of Belarus”. The revision of the financial strength rating outlook to “positive” follows a similar rating action on the sovereign long-term issuer rating of Belarus in national currency, which was affirmed at “B-“. “The ratings continue to reflect the fact that these insurers are 100% state-owned companies and can be supported by the state capital if necessary. In addition, it was taken into account the insurers’ leading market positions in their respective business segments, sustainable profit generation, and the relatively poor quality of their investment portfolio. Positive factor for the ratings of Belgosstrakh and Eximgarant of Belarus is the availability of government guarantees for compulsory insurance”, – as the agency reports. Being an American corporation Fitch Ratings Inc. along with Standard & Poor’s and Moody’s composes “The Big Three” of international rating agencies. The Agency provides the world credit markets with independent and future-oriented credit ratings, analytical studies and data.

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