The rating change forecast is “Stable”.
Foreign experts note the good profit indicators and leading positions of Halyk-Life in the domestic life insurance market. Besides, the company is a strategically important subsidiary of the largest bank in the country.
“A high rating assigned by S&P once again confirms the strong position of our company in the Kazakhstan market. As noted in the agency's release, Halyk-Life's credit profile was positively impacted by an experienced management team, established risk management practices and significant liquidity to meet financial obligations. We intend to further develop the company's potential for effective fulfillment of obligations to all our clients,” commented Andrey Dzheksembayev, Deputy Chairman of the Board of Halyk-Life.
The agency analysts also note the strong position and vast experience of Halyk-Life in the market, as well as the fact that the Company has a significant distribution network and well-recognized brand associated with the largest financial group in Kazakhstan.
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