20 September 2021
AM BEST AFFIRMS THE RATING OF "GIC PERESTRAKHOVANIE" AT THE LEVEL OF B++ (Good)
On 17 September 2021, AM Best affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” (Good) of “GIC Perestrakhovanie” LLC. The outlook of these Credit Ratings (ratings) is stable.
This is the first scheduled affirmation of the rating first assigned by AM Best in December 2020.
As before, the rating agency specially outlines the GIC Perestrakhovanie’s strong balance sheet, adequate operating performance as well as comprehensive support from the parent - GIC Re (Mumbai).
Full version of AM Best’s press release is available at the following link:
MOKASHI Sanjay Vasant, General Director of LLC "GIC Perestrakhovanie":
"Rating is definitely one of the most important attributes of a reinsurer. And in this regard we are satisfied that both rating agencies we cooperate with have affirmed their rating assigned based on our performance during the first 12 months of operations. From one point of view, it is a positive evaluation of our activities in the Russian market at the initial stage, from another – this is the key factor for us to take into account for developing our operations in the region further."