OREANDA-NEWS. National Rating Agency has lowered its reliability rating on Region Soyuz Insurance Company LLC (Region Soyuz IS) to ‘A-’.

The rating downgrade reflects Region Soyuz IS’s declining business volumes (premiums written decreased 28% compared with 2013), loss of a number of large customers, reduced authorized capital (from RUB1.5 billion to RUB625 million) and poorly diversified investment portfolio.

Region Soyuz IS’s individual rating of ‘A+’ (‘High-Level 1 Reliability’) was affirmed in June 2014.

In 2014, Region Soyuz IC wrote RUB533.3 million in premium and paid out RUB149 million in claims, according to the insurer’s financials.