OREANDA-NEWS. August 29, 2011. The international rating agency Moody’s Investors Service has confirmed ROSNO’s international-scale financial stability rating at Baa1 and national-scale rating at Aaa.ru, with the forecast "Stable", reported the press-centre of ROSNO.

In their updated review of IC ROSNO’s performance, which confirms the insurer’s current financial stability rating, Moody’s analysts note the following: "This rating reflects the support provided to the company by its shareholder Allianz SE (who owns 100% shares in ROSNO, with the financial stability and senior debt rating of Аа3). The rating also indicates the company’s strong position in the Russian classical insurance market, its highly diversified business and extensive sales network".

Moody’s report mentions a number of factors positively affecting ROSNO’s solvency. Among them are: a significant role of Allianz as a shareholder and source of innovative products, strong positions in the retail insurance market and high recognizability of the brand, multichannel sales network, and good diversification of classical insurance products. According to Moody’s analysts, high standards of Allianz Group positively affect the company’s corporate governance and risk management.

As Moody’s analysts note, ROSNO possesses a diversified sales network where the agent, corporate and partner sales channels account for about 30% of the total volume of premium, and, beginning in 2010, the company also has had bankassurance and direct sales channels.

"Lately, the shares of motor insurance and VMI insurance in the company’s portfolio were increasing, yet ROSNO still holds a quite diversified portfolio where motor insurance accounts for 38%, VMI accounts for 35% and property insurance — for 12%", says the rating agency’s report.

Moody’s analysts also concluded that the expected consolidation of the companies CJSC SAK Allianz, OJSC IC Progress-Garant and OJSC IC ROSNO in 2012 would not have a significant effect on the current level of financial stability of OJSC IC ROSNO.

Initially, Moody’s Investors Service assigned ROSNO an international-scale rating at Baa1 with the forecast "Stable" in March 2007. At the same time, Moody’s Interfax assigned the company an Ааa.ru rating on the national scale.