on December 7, 2018, the national rating agency IBI Rating updated the long-term credit rating of JSIC "INGO Ukraine" on the national rating scale at uaAA (stable outlook). The rating report states that the investment grade uaAA is characterized by very high creditworthiness compared to other Ukrainian borrowers or debt instruments. The "stable" outlook on the credit rating means that a change in the credit rating during the year is unlikely.
Factors supporting the credit rating grade:
- Strong market positions, as well as well-developed sales channels, which contributes to the stable dynamics of insurance premiums
- Acceptable capitalization ratios and absence of debt burden
- Balanced insurance portfolio
- High quality and sufficient diversification of assets representing insurance reserves
- Significant share of the reserve for reported but not paid losses
- High solvency ratios - as of October 01, 2018, the actual solvency margin exceeded the regulatory one by more than 3 times.
- High value of the combined loss ratio
- Volatility of the operating environment, the changing regulatory environment, as well as the sensitivity of the company's revenue base to changes in the real sector.