OREANDA-NEWS. Fitch Ratings has affirmed ACE Insurance Company (Russia)'s (ACE Russia) National Insurer Financial Strength (IFS) rating at 'AAA(rus)' with Stable Outlook and simultaneously withdrawn it.


Fitch has withdrawn the rating as ACE Russia has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the rating. Accordingly, Fitch will no longer provide ratings or analytical coverage for ACE Russia.

ACE Russia continues to be part of ACE Group, a global insurer and reinsurer. The ultimate parent of the group is ACE Limited, domiciled in Switzerland (Long-term IDR A+/Stable). Fitch views ACE Russia as "Important" to ACE Group under its group rating methodology. This reflects the small size of the insurer relative to ACE Group and support from the parent being 'informal' rather than provided though a formal support agreement.