trending Market Intelligence /marketintelligence/en/news-insights/trending/r7Jt7Suc1toyKrikN2I_Tg2 content esgSubNav
In This List

Fitch assigns ratings to Allianz Russia


The Big Picture 2022 Insurance Industry Outlook


Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge


S&P Capital IQ Pro | Unrivaled Sector Coverage

Fitch assigns ratings to Allianz Russia

FitchRatings on July 7 assigned Russian insurer JSC IC Allianz an insurer financialstrength rating of BBB- with a negative outlook and a national issuer financialstrength rating of AAA (rus) with a stable outlook.

Fitchsaid the rating is based on 100% ownership of the Russian insurer by , which has a AAinsurer financial strength rating with a stable outlook, but also takes intoaccount Russia's sovereign long-term local currency issuer default rating ofBBB-, as well as the subsidiary's "weak" standalone capital positionand operating performance.

Thenegative outlook on Allianz Russia's BBB- rating reflects that of the Russiansovereign rating.

Therating agency said it perceives Allianz Russia as strategically important tothe parent, a view that is supported by the track record of parent support andits strategic commitment to maintaining a direct presence in Russia.