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Fitch Affirms Eximgarant at “B”; Outlook Stable

19 March 2020 Fitch Ratings has affirmed Eximgarant of Belarus Insurer Financial Strength (IFS) Rating at ’B’. The Outlook is Stable.
Eximgarant's rating reflects the company's systemic significance as a national export credit agency and 100% state ownership. Capital is strong relative to the insurer’s business volumes, with a Solvency I-like statutory ratio of 42x at the end-2019.
Eximgarant’s combined ratio improved to 64% in 2019 from 92% in 2018.