Fitch changes AlfaStrakhovanie to positive

Fitch Ratings said it revised AlfaStrakhovanie plc (Russia)'s outlook to positive from stable and affirmed its insurer financial strength rating at BB.

Fitch said the outlook revision reflects the significant improvement in AlfaStrakhovanie's risk-adjusted capital position in 2017 and the agency’s expectation that the company will further improve its capital position in 2018.

The rating affirmation reflects the thin capitalization of AlfaStrakhovanie, which is however offset by its solid position in the domestic market, its good profitability, as well as better-than-peers' quality of investments, Fitch explained.

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