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S&P affirms Halyk-Life's current financial strength rating

As part of the annual rating review, the international rating agency S&P affirmed Halyk-Life's current financial strength rating at BBB- with a stable outlook. The rating on the national scale is still at kzAAA, the press service of the financial institution reports.
S&P affirms Halyk-Life's current financial strength rating

“Our company has proved its leadership position in the Kazakhstani life insurance market. This rating is a signal to all clients that the company’s financial credibility and ability to fulfill all obligations under insurance contracts have been confirmed in the long term by an independent assessment of the world-famous international rating agency,” Deputy Chairman of the Board Meirzhan Medeubayev commented on the rating action.

Halyk-Life, a life insurance subsidiary of Halyk Bank, was founded in November 2005. According to official data, as of April 1 this year, the charter capital of the financial organization was 11.99 billion tenge. The size of the company amounted to 292.5 billion tenge (first place among life insurance companies in the Republic of Kazakhstan in terms of assets), the size of insurance reserves - 219.8 billion tenge, the company's equity capital - 66 billion tenge.

Photos are from open sources.

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