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Nomad Life assigned S&P rating of BB

The international rating agency S&P Global Ratings has assigned JSC Nomad Life a long-term rating of BB (stable prognosis). Besides, the Company has received a national scale rating of kzАА-.
Nomad Life assigned  S&P rating of BB

The ratings of JSC LIC Nomad Life reflect the company’s strong position in the Kazakhstani life insurance market and the high performance indicators over the past five years. The company occupies one of the leading positions in the life insurance market in Kazakhstan and shows strong profitability,” S&P analysts state.

“Being rated by S&P Global Ratings, one of the largest rating agencies is an important event that confirms the positive trend in the Company’s development and serves as evidence of its reliability as a business partner. The work of life insurance companies is associated with long-term obligations, therefore an insurer’s reliability is a key factor for customers when choosing a financial institution, as it gives confidence in safety, savings increase and a stable future,” commented Kairat Chegebayev, Chairman of the Management Board of JSC LIC Nomad Life .

 

The company got the highest rating in the life insurance industry among the CIS countries from the agency included in the Big Three of international rating agencies (Standard & Poor's, Moody’s, Fitch Ratings).

In addition, JSC LIC Nomad Life has been leading the rating of life insurance companies according to a Forbes Kazakhstan study, with the assistance of KPMG in Kazakhstan and Central Asia for the second year in a row. Being sustainable and one of the fastest growing players in the financial market of Kazakhstan the Company is the largest taxpayer in the industry.

Reference: LIC Nomad Life was founded on November 13, 2007. The Company carries out insurance (reinsurance) activities in the life insurance industry under license No. 2.2.47 issued on January 21, 2019 by the National Bank of the Republic of Kazakhstan (the License was first obtained on May 28, 2008).

Since 2012, the Company has been a leader in the life insurance market in terms of assets, equity, payments, insurance reserves and premiums, including the Compulsory Accident Insurance and Annuity Insurance classes. The risks of JSC LIC Nomad Life are reinsured by the largest European reinsurance company with an AA- rating (according to S&P), operating all over the world. JSC LIC Nomad Life has a developed sales network with 17 branches and 12 regional offices operating in the regional and district centers of the Republic of Kazakhstan.

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