OREANDA-NEWS. National Rating Agency has affirmed its national scale reliability rating of 'AAA' and its global scale credit rating of 'iA' on LocalTapiola Insurance Company and has withdrawn the both ratings due to expiry of the contract.

According to LocalTapiola's consolidated financial statements audited by KPMG, the amount of gross premiums written increased to EUR 904.6 million in 2013 from EUR 727 million in 2012 as a result of the merger of Tapiola General, Local Insurance Mutual Company and 19 regional mutual insurance companies under the LocalTapiola brand. In 2013, the company paid out EUR 603 million in insurance claims, as against EUR 535.8 million in 2012. In 2013, the combined ratio decreased by 1.6 percentage points to 94.5%.

LocalTapiola was assigned NRA's individual national scale reliability rating of 'AAA' and NRA's global scale credit rating of 'iA' in March 2014.