On December 7, 2018, the national rating agency IBI Rating updated the long-term credit rating of INGO Ukraine on the national rating scale at uaAA (stable outlook). The investment level uaAA is characterized by a very high creditworthiness compared to other Ukrainian borrowers or debt instruments. A “stable” credit rating forecast means that a change in credit rating throughout the year is unlikely.
Factors justifying the level of credit rating:
- Strong market positions, as well as well-developed sales channels, contribute to stable dynamics of insurance payments
- Acceptable capitalization rates and no debt burden
- Balance of insurance portfolio
- High quality and sufficient diversification of assets that represent insurance reserves
- Significant share of the claim for reported but unpaid losses
- High solvency indicators - as of 01.10.2018, the actual solvency margin exceeded the standard by more than 3 times.
- High value of the combined loss ratio
- The instability of the operating environment, the variability of the regulatory field, as well as the sensitivity of the company's revenue base to changes in the real sector.