/KASE, October 24, 2019/ – Life insurance company "Freedom Finance Life"
(Almaty), whose shares are officially listed on Kazakhstan Stock Exchange
(KASE), has informed KASE about the following:
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On October 22, 2019 Fitch Ratings upgraded financial strength ratings of Life
Insurance Company Freedom Finance Life to 'B' on the international scale and
to 'BB(kaz)' on the national scale. The Outlooks are Stable.
The rating upgrading followed the company's solvency margin improvement to
197% at the end of September 2019. That was possible thanks to an additional
capitalization by KZT1 bn from major shareholder Timur Turlov, as well as an
increase in the company's net income to KZT528 mln in 9 months of 2019.
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Details are available on KASE website –
http://kase.kz/files/emitters/ASLF/aslf_change_rating_221019_2564.pdf
[2019-10-24]