On March, 17th, 2010 the Rating Agency Expert Rating has confirmed stability rating of the insurance company OJS IC MIR at national scale level uaAА-. Rating level uaAА- means very high probability of that the company will resist under the influence of adverse factors in the future. (see Table)

Based on the results of 2009 the following trends can be observed in company’s development:
1. The business OJS IC MIR suffered due to current economic crisis. During 2007–2009 the annual amount of gross premiums of the company has fallen to 64%, the total indemnities has grown by 110%. In 2009 gross premiums of the company dropped just by 18% that is by an order less than averagely in the market.
2. In 2009 OJS IC MIR resumed a profitable work. Following the results of 2009 the company has got 2.794 mln UAH of net profit, having shown ROE at 4.54%. Let it be reminded that in 2008 company’s profit made merely 21.6 th. UAH.
3. As of the beginning of 2010 the OJS IC MIR was maintaining a redundant level of capitalization. Equity/assets ratio was more than 90%. Also the analytical service of Agency underlines that the company possessed sufficient liquid assets for execution of current obligations.
As a whole, despite decrease in volumes of business, OJS IC MIR has safely overcome the crisis; its current financial strategy can be characterized as conservative and directed on guaranteed maintenance of obligations to insurers.

Analytical service of RA Expert-Rating

Confirmation of JSC IC MIR rating — 17.03.2010