RUSSIA: financial reliability rating of SBERBANK Life insurance confirmed at ruAAA

23 July 2020 — Marina MAGNAVAL
The national rating agency Expert RA has confirmed the highest rating of financial reliability of SBERBANK Life insurance at ruAAA, outlook stable, as the insurer's press service reports.

The agency noted high quality of the company' assets and free capital reserves. For six consecutive years, the company has been the leader on the life insurance market in terms of GWP, and for two consecutive years - the leader in terms of paid claims. At the end of 1Q2020, the company's assets amounted to RUB 486.3 billion (EUR 5.67 billion*), equity - RUB 43.7 billion, charter capital - RUB 450 million.

The rating is positively affected by significant deviation of the actual solvency margin from the standard - 93.1% as of March 31, 2020, high free capital reserve, low ratio of accounts payable and other liabilities to the balance sheet total - 1.8%, as well as absence of debt load and off-balance liabilities. According to Expert RA, the company has adequate quality of management, strategic support and financial planning. The agency also notes high financial potential and reliability of the key partner bank and owner of the company - Sberbank.

SBERBANK Life insurance is a subsidiary of Sberbank of Russia, and is offering risk, accumulative and investment life insurance. The company is the leader on the Russian life insurance market.

* for the following exchange rate:
1 EUR = 85.7389 RUB (March 31st, 2020)

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