Halyk-Life’s rating has been affirmed at the level of “BBB-” in accordance with the updated criteria of the capital model; the outlook is “Stable”. The assessment of capitalization and profitability remains satisfactory, while capital adequacy exceeds the 99.8% confidence interval.
In the next 24 months, Halyk-Life will retain its strong competitive position in the Kazakhstan life insurance market maintaining capital reserves and adhering to a moderately conservative investment policy.
S&P Global Ratings analysts expect Halyk-Life to retain a dominant competitive position in the domestic life insurance market. “The insurance company will maintain its strong market position in Kazakhstan with a market share exceeding 30% of the gross written insurance premium and total assets of the sector. Halyk-Life’s financial risk profile is positively impacted by increasing capital adequacy ratios, good liquidity ratios and a prudent asset allocation policy,” S&P stated in its report.
“We are very pleased that the international agency S&P Global Ratings has once again highly rated our work. Confirmation of Halyk-Life’s financial strength rating, currently one of the best in the life insurance market, reflects the high performance and effectiveness of the chosen development strategy, which our company continues to steadily follow. This once again confirms the reliability of the company and strengthens the trust of our clients. They can be confident that their insurance premiums and policies are reliably protected,” Zhanar Zhubaniyazova, Chairperson of the Board of Halyk-Life, commented on the news.
Halyk-Life, a subsidiary of the Narodny Bank of Kazakhstan in life insurance, founded in 2005, is the leader in terms of insurance premiums in the insurance market in Kazakhstan.
Photo is from open sources.
