OREANDA-NEWS. National Rating Agency has lowered its reliability rating on Region Soyuz Insurance Company LLC (Region Soyuz IS) to ‘BBB+’ and has withdrawn it due to expiry of the rating contract.

The rating downgrade is based on the company’s unfavorable premium income trend in 2015, reduced geographical diversification, high loss ratio on assumed reinsurance and weakened profitability metrics.

Region Soyuz IC’s individual reliability rating of ‘A+’ (‘High, Level 1, reliability’) was affirmed in June 2014 and lowered to ‘A-’ (‘High, Level 3, reliability) in April 2015.