Fitch: key challenges in Russian insurance sector
Fitch Ratings says the Russian insurance sector continues to be challenged by low market capitalisation, inability to meet solvency requirements, and variable level of consistency in the statutory financial reporting. The sector also suffers from a lack of statistics for tariff and reserve calculations, widespread use of financial schemes, high cost base of many insurers, and low quality of their investment portfolios.
Fitch estimates the size of insurance sector equity is approximately $1.5 billion, net of capital that is inflated by various financial schemes. This shows that the current capitalisation of theOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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