OREANDA-NEWS. National Rating Agency is withdrawing its reliability rating on Severnaya Kazna Insurance Company Ltd. following the suspension of the powers of the company's executive bodies and initiation of external administration.

The company's individual reliability rating of 'A' (high, Level 2, creditworthiness) was affirmed in June 2014.

According to Severnaya Kazna's financials based on Russian Accounting Standards, the company wrote RUB3 billion in premiums, paid out RUB1.3 billion in claims and posted a net profit of RUB5.1 million for nine months ended September 3, 2014.