Rated B+ (stable) by A.M. Best

Best's Financial Strength Rating: B+                     Outlook: Stable

Best's Issuer Credit Rating: bbb-                             Outlook: Stable

Best's Financial Size Category: VII
The following text is derived from A.M. Best's consolidated Credit Report on AzRe Reinsurance, OJSC (AMB# 093707).


The rating of AzRe Reinsurance reflect its strong consolidated risk-adjusted capitalization and operating performance, as well as its solid business profile as the sole reinsurer in Azerbaijan’s domestic market. Partly offsetting these factors are the high concentration risk inherent within the group’s underwriting and investment portfolios, its volatile technical results and the increased financial system risk resulting from the challenging economic conditions arising in Azerbaijan.

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