/KASE, April 19, 2022/ – Insurance Company "Kommesk-Omir" JSC (Almaty), whose
shares are officially listed on Kazakhstan Stock Exchange (KASE), has provided
KASE with the following press release:
quote
International rating agency A.M. Best on April 1, 2022 affirmed the financial
strength rating of "B-" and the long-term issuer credit rating "bb-" of Insurance
Company "Kommesk-Omir" (hereinafter – Kommesk). The outlook for these credit
ratings is stable.
In the expert opinion of A.M. Best it is said that a positive rating factor is
the stability of the company's balance sheet and operating indicators, which
are supported by Kommesk's high level of capitalization.
A.M. Best expects the company's risk-adjusted capitalization to remain at its
highest level, driven by positive operating results and no dividend payments, as
part of its strategic business plan. In addition, Kommesk's balance sheet
strength takes into account the company's comprehensive reinsurance program,
which is supported by a group of reliable reinsurers with good financial
strength.
Counterweights to the rating include the credit quality of the company's
investment portfolio and its focus on the domestic market.
unquote
The complete press release is available on –
https://kase.kz/files/emitters/KMSO/kmso_relizs_010422.pdf
[2022-04-19]