OREANDA-NEWS. December 28, 2011. Expert RA confirmed the rating of OJSC SOGAZ at A++ “Exceptionally high reliability”, forecast “Stable”.

According to Aleksey Yanin, Head of Insurance Company Rating Department, Expert RA, the positive effect on the rating has been due to the high requirements posed by SOGAZ to the quality and diversity of its reinsurance coverage - “we transfer the risks to reliable Russian and foreign reinsurance companies with ratings of A+ and higher on the scale of Expert RA or equivalent international rating agencies. Expert RA also points to SOGAZ’s large client base, broad regional network, and its leading positions in the insurance market as a whole, as well as in its particular segments.

According to the agency’s analysts, SOGAZ’s financial stability is determined by high return on assets (7.5% over the first half of 2011, 10,3% over 2010) and own funds, as well as high current liquidity (133,3% as of the end of the first half of 2011).

SOGAZ’s financial stability has also been confirmed by Fitch Ratings and Standard & Poor's international rating agencies.

The SOGAZ Insurance Group includes insurance companies OJSC SOGAZ, LLC IC SOGAZ-Agro (formerly LLC IC Neftepolis), OJSC Insurance Company SOGAZ-Med (formerly OJSC Gazprommedstrakh), LLC IC SOGAZ-Life, OJSC IC SOGAZ-SHEKSNA, OJSC MIC Sheksna-M, asset management company OJSC Leader, and health service company LLC Gazprommedservice. Currently the group’s regional network includes over 600 subdivisions and sales outlets across Russia and a representative office in Kazakhstan. SOGAZ has been assigned reliability rating A++ by Expert RA, as well as international financial stability ratings BB+ (Standard & Poor’s, forecast Stable) and BB+ (Fitch Ratings, forecast Stable).