OREANDA-NEWS. National Rating Agency has lowered its reliability rating on Kupecheskoe Insurance Company LLC to ‘A-’.

We believe that in 2H 2014 the company failed to overcome the negative factors influencing its rating, namely, the growing combined ratio, high level of past-due receivables, low creditworthiness of some of its reinsurance partners and thenegative financial result.

At Sept. 30, 2014, the insurer’s actual solvency margin was only 4% above the regulatory minimum, far below the prescribed 30%. According to the company, in December 2014 it was complying with the regulatory solvency requirements.