OREANDA-NEWS. National Rating Agency has affirmed its reliability rating on OJSC OTKRITIE Insurance at 'AA-'. At the same time, the company's rating has been withdrawn due to expiry of the contract.

The rating affirmation reflects the strong support from the parent Otkritie Financial Corporation, the company's adequate creditworthiness and its well diversified and robust investment portfolio.

The rating constraints include the company's declining written premiums, unbalanced insurance portfolio, increasing combined ratio and high administrative expenses.