Nomad Life invests most of its funds in systemically important Kazakhstani banks and government-related organizations with an average credit quality of 'BBB'.
The agency's analysts predict that the company will maintain its capital adequacy ratios at least at AA level, in accordance with the rating agency's capital adequacy model amid high premium growth and strong operating performance.
“We keep launching innovative products on the market that are a profitable alternative to the existing instruments in the financial market, and the confirmation of the Company's rating by the S&P agency, in our opinion, is an indicator that we are moving in the right direction. We are the leading life insurance company in the Kazakhstani market today, and we hold leading positions in almost all financial indicators,” commented on rating confirmation Kairat Chegebayev, Chairman of the Board of LIC Nomad Life.
LIC Nomad Life started operating in 2007. The company was the first among all insurance organizations in the life insurance industry to get a license to operate in the securities market.
The company has been leading in the life insurance market in terms of assets, equity capital, payments, insurance reserves, as well as collection of insurance premiums since 2012. Nomad Life's risks are reinsured by the largest European reinsurance company with an AA- rating (according to S&P) operating around the world.
LIC Nomad Life has a developed sales network and 17 branches and 12 regional offices operating in regional and district centers of the Republic of Kazakhstan.
Photo is a courtesy of the press service.
