OREANDA-NEWS. 'Expert RA' rating agency downgraded 'ARTEX' insurance company reliability rating to В+, which means sufficient reliability. The rating outlook is developing, which means equal probability of changing and maintaining the rating in the mid-term. The Company used to have rating A, which means high reliability, the third sublevel, the stable outlook.

The following factors have a positive impact on the rating: the high current ratio and the high adjusted net insurance liquidity ratio, the low net loss ratio for 9 months 2013 as well as high reliability of reinsurance protection of the Company.

Low investment portfolio liquidity and the negative technical result of insurance transactions, not considered on the accrual basis, for 4Q2012 remain among the persisting negative factors.