A.M. Best has affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of “b+” of JSC IC Kazkommerts-Policy (Kazkommerts-Policy). The outlook of these Credit Ratings (ratings) is stable.
In accordance with A.M. Best assessment (London, December 14, 2017, Full press-release http://www3.ambest.com/ambv/bestnews/presscontent.aspx?refnum=26037&altsrc=9) these ratings reflect Kazkommerts-Policy’s balance sheet strength.
Kazkommerts-Policy’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), is assessed as strongest.
Kazkommerts-Policy has continued to grow rapidly in 2017, with net written premiums (NWP) forecast to be three times higher than in 2014.
The company became the fourth-largest insurer in Kazakhstan’s non-life market in 2016, and has maintained this position (as measured by gross written premiums) in the first nine months of 2017.