OREANDA-NEWS. National Rating Agency (NRA) has affirmed its national scale 'AAA' and its global scale 'iA-' credit rating on Trust Re. The outlook for the rating is Stable. NRA's national scale 'AAA' and global scale 'iA-' individual credit rating was first assigned to Trust Re in 2013 and affirmed in 2015.

The rating affirmation for Trust Re reflects its growing capitalization, many years' experience in reinsuring complex industrial (particularly energy sector-related) risks, improving gross performance metrics, high reinsurance capacity and solid solvency position.

The rating is constrained by the high competition in the world reinsurance market and the possibility that the company may lose some of its business in Russia due to the increasing currency, economic and political risks faced by Russian insurers.