OREANDA-NEWS. 'Expert RA' rating agency confirmed' Railway Insurance Fund' reliability rating A, which means high reliability, the third rating sub-level. The rating outlook changed from stable to developing.

High deviation of the actual solvency margin from the standard one, high current liquidity ratios, and low net loss ratios have a positive impact on the rating. High investment portfolio diversification and the low share of receivables in assets are highlighted among other positive factors.

Such factors as the extremely low reliability and low reinsurance protection diversification did not allow assigning a higher rating: 94.5% of premiums transferred to reinsurance were accounted for by the companies not rated by 'Expert RA' or other global rating agencies during 6 months 2013; with the biggest reinsurer's share amounting to 68.4%. The Agency also noted the Company's high exposure to stock exchange risks: as of September 13, 2013, 30.5% of investments were into stock exchange securities.