Moody's may lift Garant financial strength

Moody's Investors Service said it placed the B3 insurance financial strength rating of Garant Auto Insurance Co. on review for possible upgrade.

Moody's said the decision follows the announcement by Generali Group on June 9 that it had acquired a 51% stake in Garant Auto and Garant Auto Life.

Following the closing of the transaction, Generali will become a major player in the rapidly growing Ukrainian insurance market, given Garant-Auto's No. 2 position in tyhenon-life market and Garant Life's Nov. 3 position in the life market, the agency said.

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