Fitch withdraws ratings of Kazakh insurance company

Feb. 6. Trend

By Elena Kosolapova

Fitch withdraws ratings of Kazakh insurance companyInternational Rating Agency Fitch Ratings has affirmed and withdrawn Kazakhstan-based JBC NOMAD Insurance Company’s (NOMAD) Insurer Financial Strength (IFS) rating ‘B’ and its National IFS rating ‘BB+(kaz)’ with Stable Outlooks, the agency said on Feb. 6. “Fitch has withdrawn NOMAD’s ratings as the company has chosen to stop participating in the rating process,” the agency said.

Therefore, Fitch will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for NOMAD.