Institute of Risk Analysis is an independent analytical organization, which has conducted the largest public rating of insurers in Ukraine. Institute’s experts have analyzed publicly available financial information (as of 27.11.2015) regarding the performance of 262 (225 non-life and 37 life) insurance companies.
Only 41 (34 non-life and 7 life) insurance companies have managed to obtain an “investment grade” rating. It means that 34 non-life insurers among all 318 operated in Ukraine demonstrate high financial stability and are ready to fulfil confidently their financial obligations. Insurers that were included in the credit rating “green-zone” are companies with foreign capital as well as robust domestic insurance companies, amongst which BUSIN Insurance company occupies a prominent position.
Other companies received “speculative grade” ratings. It should also be noted that ratings of almost 140 companies were included in the “red-zone”, which means that their rating was identified as average or poor.
The insurance company credit rating scale used by the analytics corresponds to the national credit rating scale of Ukraine. Investment ratings grades (uaAA, uaAA, uaA, uaBBB) are awarded to companies which demonstrate higher financial stability and have strong positions on their financial obligations. Ratings of non-investment “speculative grade” companies (uaBB, uaB, uaCCC, uaCC, uaC) reflect the higher risk, which is described by the lack of financial capacity to fulfil future financial obligations as compared to “investments grade” companies.
The electronic version of the rating-list can be found via the following address: https://www.iar.in.ua/openrating/?order=pa#report_top