Russia discusses with “friendly” European ratings of insurers
Irina Melnikova, who this year moved from the Bank of Russia to the NRA to the position of senior managing director, said in an interview with Frank Media. According to her, “the issue with the share of reinsurers is especially acute.” “Processes are slowly being taken away,” she said.
According to Irina Melnikova, the process of mutual use of ratings can be widely expanded in the insurance industry, but as soon as there is export trade, reserves, bonds in Asian currencies, and so on. “First the market is born, and then the infrastructure begins,” she said.
As a financial top manager of the NRA, you can focus on ways: “These can be common scales, mutual recognition of ratings, the inclusion of Russian credit rating agencies in their regulation of” friendly “countries.”
“For several years now, there has been a regular exchange of views and ideas on the prospects for higher rating systems at the site of the Eurasian Economic Community and within the working group of various forums of the BRICS member countries,” reminds Expert RA CEO Nikolai Ivanov.
At the same time, according to his consideration, various options were considered: “And the mutual appointment of private rating agencies, and the establishment of a single BRICS rating agency, and the creation of an Alliance of rating agencies with universal methodologies.” “However, to date, it has not yet been possible to reach a broad unanimous understanding of the concept of a consolidated rating market and agree on limited steps,” he laments.
The Bank of Russia told Frank Media that “including considering the situation with the involvement of foreign KRA with the Russian market, the interaction of the Central Bank with the regulation of international international relations, including the discussion of countries taking into account cooperation in the line of ratings, becomes promising.”
Frank Media request to the Ministry of Finance.
Read the full interview on Frank Media at 21:00 Moscow time.