Moody’s, a prestigious international credit rating agency, has upgraded the rating of Nairi Insurance Company to Ba3 from B1, with a stable outlook. The upgrade comes alongside an improvement in Armenia’s sovereign rating outlook. According to Moody’s, the upgrade of Nairi Insurance’s insurance financial strength ratings to Ba3 from B1, and its stable outlook, reflects an improved operating environment as well as a strengthening in the company’s asset quality, capital adequacy and profitability.It is noted that Nairi Insurance ranked first in terms of insurance premiums collected based on the results of both its 2025 annual report and the first half of 2026. The company received its first Moody’s rating in 2023 – B1 with a stable outlook – becoming the first and, to date, the only insurance company in Armenia to receive a rating from a leading international rating agency. “The upgrade in our rating is not only an assessment of Nairi Insurance’s stable financial performance, transparent operations, dynamic development, and effective strategy, but also an important foundation for continuing the company’s development while contributing to the advancement and strengthening of the insurance culture and services in our country,” the company said in a news release. Tweet Views 1200