OREANDA-NEWS. National Rating Agency has affirmed its 'AA-' reliability rating on BIN Insurance LLC, taking into account the support rating of 'Rs2', which reflects the probability of support that the company can get from BIN Bank PJSC, its strategic partner.

The insurer's financial reliability is underpinned by its being part of a strong group, its well-executed growth strategy (developed together with McKinsey & Company), extensive customer base, strong credit standing and well-balanced insurance portfolio.

BIN Insurance LLC's financial reliability is weakened by the negative premium growth, high net combined ratio (~140%), and unfavourable underwriting performance trends.