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International

Ukraine publishes ratings rules for foreign insurers and reinsurers

February 27, 2013 Reprints

Ukraine's National Commission for Regulation of Financial Services (Natskomfinuslug) has published a revised draft setting out the minimum financial strength rating (FSR) for foreign insurers and reinsurers, reported Forinsurer.

The document states that a foreign insurer with a local contract must have an FSR that is not lower than the following ratings by international ratings agencies: 'B+' by A.M. Best Co. Inc., 'Baa' by Moody's Investors Service Inc., 'BBB' by Fitch Ratings Ltd. and 'BBB' by Standard & Poor's Corp. For foreign reinsurers, the minimum FSR levels are 'B' by Best, 'Ba' by Moody's, 'BB' by Fitch and 'BB' by Standard & Poor's.

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Ukraine publishes ratings rules for foreign insurers and reinsurers

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