ANNUAL CONFERENCE OF THE FITCH RATINGS WAS HELD IN MOSCOW ON THE 24TH SEPTEMBER 2019

The keynote speaker was James McCormack, Fitch Ratings global head of the sovereign rating group. His presentation contained an overview of the agency’s rating actions in the recent years and analysis of the trends in regional markets. In recent years, the most stable region in terms of sovereign ratings are emerging markets in Asia. The sovereign ratings of the countries located there either did not change in the recent years, or showed a tendency to increase, including by revising forecasts for positive ones.

 At the end of 2018, this region accounted for almost a third of the collected reinsurance portfolio. An important region for Mandarin Re Ltd. that accounts for nearly 30% of the inward reinsurance premium from the Middle East. The situation with sovereign ratings is also quite stable with few exceptions. Sovereign ratings show overall stability within the state, including the economic sphere. And the national insurance market, as a rule, is derived from the internal economic situation and even with a delay, we reacts to the changes.

 Our CEO, Tatiana Belova emphasize almost two-thirds of the portfolio of Mandarin Re Ltd. collected in the regions with a stable economic situation, which allows to create a stable reinsurance portfolio.