MOSCOW, May 2. /TASS/. The Russian Analytical Credit Rating Agency (ACRA) assigned the AAA (RU) credit rating with the stable outlook to the Russian National Reinsurance Company (RNRC), press service of the reinsurer said on Tuesday. The decision was made on April 28, the company said.
The credit rating assigned to the reinsurer "is based on its very strong business and financial profiles coupled with high-quality management," ACRA said in its press release. This is the first public rating assigned by ACRA on the insurance market, Director of the Financial Institutions Ratings Group Alexei Bredikhin told TASS on Tuesday. "Several other projects are in progress," he added.
RNRC is a wholly-owned reinsuring subsidiary of the Bank of Russia established in 2016 for protection of risks of clients hit by international sanctions.