OREANDA-NEWS. National Rating Agency has withdrawn its reliability rating on Eurostrakhovanie Insurance Company without affirming it. The withdrawal is due to the company's failure to provide information in compliance with Clause 5 of Article 12 of the Federal Law No. 222-FZ On the Activities of Credit Rating Agencies in the Russian Federation.

According to its Russian GAAP financials, Eurostrakhovanie wrote RUB11.7 million in premium and paid out RUB1.5 million in claims in 1Q 2015 compared with RUB1.2 billion and RUB72 million respectively in 2014. Agricultural risks represent 99.9% of its total written premiums. The company's net profit was RUB270.5 million for 1Q 2015 and RUB889 thousand for 2015.

Eurostrakhovanie's insurance license was suspended by the Bank of Russia's order No. OD-1387 dated June 18, 2015.

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