Subsidiary Insurance Company of Halyk Bank of Kazakhstan Halyk – Kazakhinstrakh informed Rating Agency Expert RA Kazakhstan upgrades the company reliability rating to А++
January 28. KASE
Rating Agency Expert RA Kazakhstan upgrades Insurance Company Kazakhinstrakh reliability rating to А++ “Exclusively high reliability rating”. Previously the company had the rating at А+”Very high reliability rating”.
The positive impact to the company rating is caused by: high diversification of the insurance portfolio (by results of 9 months of 2012 the Herfindahl-Hirschman index made up 0.21), high diversification and stability of the investment portfolio, high values of the current liquidity coefficient (as of October 1, 2012 – 3.2), moderately high profitability of the investment capital (for 9 months of 2012 ROI 8.5%), moderate indicators of main insurance types unprofitability.
Kazakhinstrakh has the deliberate re-insurance policy – all large risks are re-insured, over 92% of liabilities fell on counteragents with the reliability rating at “А-” and higher from international rating agencies. The re-insurance diversification by results of 9 months of 2012 made up 0.09″, – emphasizes Director General of Expert RA Kazakhstan Adil Mamazhanov. The company efficiently operates in regions also has the positive impact as well as diversification by region and sector clients base, leading positions in various market segments and significant financial capacity of direct and indirect owners of the company.”
“The present achievements is the result of efficient activities of Kazakhstanstrakh that develops its business under the structure of Halyk Bank of Kazakhstan financial group – emphasized Kazakhstanstrakh Management Board Chairman Sapargali Imangazin, – Being an integral part of the Group and in compliance with the strategy in force we intend to further maintain balanced insurance portfolio, strengthen development of the retail business and continuously improve the quality of services provided by our companies on the insurance market of Kazakhstan”.