Fitch: Russian insurers' ratings under pressure.

By bne IntelliNews August 13, 2010
Fitch Ratings published a report on Russian insurance companies according to which the credit ratings of the insurers' are under downwards pressure. Fitch notes problems with reserves, pricing risks and uncertainties and lacking of sufficient operational environment. Also, weak capital availability as compared to competitors in more mature markets, insufficient ownership transparency, deals with affiliated companies and agents are pressuring the ratings. To remind, in May 2009 Fitch ranked Russian insurance sector overall Negative.

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