OREANDA-NEWS. “Expert RA” rating agency confirmed ‘Fiord’ insurance company rating A, which means high reliability, and changed the outlook from stable to developing. The developing outlook means equal probability of both downgrading and maintaining the rating in the mid-term.

The low net loss ratio and the low combined net loss ratio and a positive technical result from its insurance business had a positive impact on the Agency’s decision.

Low diversification of the insurance portfolio and the reinsurance coverage, small size of the Company’s business and its high reliance on the key customers restrain the rating.

Expert RA is a leading national rating agency in Russia and at the former USSR territory, incorporated in 1997 by Expert magazine. Expert RA occupies leading positions in rating and survey-communication activity. Our purpose is to produce a new knowledge and transfer it to the society, business and authorities in an understandable way.

Expert RA was evaluated and certified as satisfying to ISO 9001:2008 demands in the following areas: assigning and actualizing expert assessments; analysis of markets and companies, survey activity; organization of business-forums, conferences and round tables. Rating methods were approved by leading international audit-consultation companies: PricewaterhouseCoopers, Deloitte. Procedural quality and information confidentiality principles are confirmed by Accenture.

Expert RA is accredited at the RF Ministry of Finance. The Agency ratings are included in the list of official requirements to banks, insurers, pension funds, issuers. Expert RA ratings have been officially recognized by FSFM, Central Bank of Russia, Vnesheconombank of Russia, MICEX-RTS, Mortgage Crediting Agency, Deposit Insurance Agency, professional associations and self-regulating organizations: VSS, Russia Association, Strategic Initiative Agency, RSA, NAPF, NLU, NSG, NFA, and hundreds of companies and agencies in the period of bids and tenders.

Expert RA and its employees received more than 80 diplomas, awards and thank-you notes, including Financial Elite award for transparency increase at the financial market, Pension Fund of Russia diploma for objective industry coverage, Time of Innovation award for popularization of innovation activity, Golden Salamander award for high analytical quality at the insurance market and many others.

Over 5000 companies from different segments of economy cooperate with Expert RA. The Agency has clients from 10 countries. The Agency database contains over 20000 company names.