Life insurance company "Freedom Finance Life" says Standard & Poor's assigned ratings to the company, outlook "Stable"

/KASE, March 20, 2020/ – Life insurance company "Freedom Finance Life" (Almaty), whose shares are officially listed on Kazakhstan Stock Exchange (KASE), has informed KASE about the following: quote International rating agency S&P Global Ratings on March 18, 2020 assigned to Life insurance company "Freedom Finance Life" JSC a credit rating and financial stability rating of insurance company at "В", as well as a rating on the national scale at "kzBBB-". Outlook on ratings – "stable". In the press release the rating agency points out that Life insurance company "Freedom Finance Life" JSC demonstrated good operating indicators over the past two years and is characterized by the moderate, but gradually strengthening competitive position on Kazakhstan's insurance market, in spite of the harsh competition in the life insurance sector and persistently complicated conditions for operating activities in Kazakhstan. The "Stable" outlook reflects expectations of S&P that Life insurance company "Freedom Finance Life" will retain its market position in Kazakhstan's life insurance sector, maintaining relatively high profitability and capital adequacy at least at the current level. unquote [2020-03-20]