The Expert RA rating agency has improved insurance financial strength rating of ROSGOSSTRAKH Life to ruAA with a stable outlook. Previously, the company had a rating at the ruAA- level with a stable outlook, the insurer said.

The rating improvement is primarily due to the increase in the insurer's financial results, the agency said in its statement. Expert RA noted adequate quality of management and strategic support of the company, high reliability of reinsurance coverage, high reliability of the key partner bank, high level of quality and diversification of the company's assets, sufficient temporal balance of the insurer's assets and liabilities.

Besides, the agency noted continued positive dynamics of the company's insurance portfolio - in the first half of 2021, the growth rate of the insurance portfolio stabilized at a moderately high level (+24.3% y-o-y). At the end of 2020, the return on equity was 29.6%, the return on sales was 3.5% (vs 15.4% and 1.2% respectively a year earlier).

ROSGOSSTRAKH Life is an insurance company, the main activities of which are bank accumulative and investment life insurance. It ranked 6th in terms of GWP among life insurers in 2020, according to the Bank of Russia. According to Expert RA, the assets of ROSGOSSTRAKH Life as of June 30, 2021, amounted to RUB 49.4 billion, equity - RUB 3.6 billion, charter capital - RUB 480 million. The company's GWP for the first six months of 2021 reached RUB 11.8 billion (~EUR 0.14 billion*).

* at the following exchange rate:

1 EUR = 86.5118 RUB (01.07.2021)