Тов „Стандарт-Рейтинг (Украина)
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- Ratings of IC “Etalon-Polis” are assigned
26.08.2015 Ratings of IC “Etalon-Polis” are assigned August 26, 2015, generalizing the components of the rating assessment of Private JSC “Insurance company “Etalon-Polis” (31512057), RA “Standard-Rating” (Ukraine) has decided to assign the credit rating/ the financial stability rating of the insurer at the level uaВВВ according to the national scale. The insurer with rating uaBBB is characterized by sufficient financial stability compared to other Ukrainian insurers. The level of stability depends on the impact of adverse commercial, financial and economic conditions. Making decision to assign the rating, the Agency was guided by the following conclusions: IC “Etalon-Polis” is a universal insurance company, with work experience in the Ukrainian market for over 14 years. IC “Etalon-Polis” refers to the category of small companies with clearly expressed specialization of servicing the corporate segment. For the first half of 2015 in IC “Etalon-Polis” there was a slight decrease in gross business volumes on the back of the growth of dependence on reinsurers. According to the Agency, in a difficult economic period the management of IC “Etalon-Polis” deliberately went to the decline in business volumes, as indicated by the reduction of acquisition costs by 75,77%. This tactical decision can be characterized as conservative, aimed at preserving the break-even operation of the Company during the crisis. On the basis of the small size of the operating loss and net loss in the first half of 2015, the decision of management was correct. According to the results of the 6 months of 2015 IC “Etalon-Polis” maintained diversification on insurance types and client diversification of business at a level close to satisfactory, however the Agency didn’t reveal the relation between the deterioration of diversification and the amount of operating profit (loss). The quality of earning assets of the Insurer receives a satisfactory assessment. The interest-bearing assets in the amount UAH 2,733 mln are represented by banking deposits and balances at current accounts that provides the Insurer’s maintenance of liquidity at an acceptable level. At the same time, not all the interest bearing assets of the Company were allocated in banks with an investment level of rating. IC “Etalon-Polis” performs a rather liberal policy of selecting the reinsurers. The reinsurance protection for IC “Etalon-Polis” is provided by the insurance companies-residents without the financial stability rating. Therefore, the quality level of reinsurance protection of IC “Etalon-Polis” has a satisfactory character. The Company has its own method of determining the financial condition of the reinsurer, takes decision about the choice of reinsurer on the basis of collegial principles. On 01.07.2015 IC “Etalon-Polis” formed the reserves in the amount adequate to requirements of Ukrainian legislation. All the reserves consisted of unearned premiums provisions. According to the results of the 6 months of 2015 the level of the Insurer’s indemnities exceeded the average of the market more than in 10 times. The Company has a very high ratio of the interest bearing assets to indemnities, which according to the results of 6 months of 2015 amounted to 1038,68%. Rating agency "Standard-Rating" (Ukraine) жүктеу/скачать 12.01 Kb. Достарыңызбен бөлісу:
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