OREANDA-NEWS. 'Expert RA' rating agency downgraded 'MASTER-GARANT' insurance company reliability rating to В+, which means sufficient reliability. The rating outlook is developing, which means equal probability of changing and maintaining the rating in the mid-term. The Company used to have rating A, which means high reliability, with the stable outlook.

The minor deviation of the actual solvency margin from the standard one, high operating costs, the high combined loss ratio, low reinsurance coverage reliability and the Company's low RoA and RoE are still regarded as negative factors.

A rather low share of receivables in assets and high insurance portfolio diversification are regarded as positive factors.