Moody’s affirms Kuwait Insurance Company’s A3 IFS Rating
Saturday, 05 23 2020, Category: Rating, Country: Kuwait
Moody's Investors Service ("Moody's") has today affirmed the A3 insurance financial strength rating (IFSR) of Kuwait Insurance Company S.A.K. (KIC), based in Kuwait. The outlook remains stable.
The rating action reflects Moody's expectations that KIC will be able to maintain: (i) its strong position in the domestic market with an established brand and a good reputation for service, (ii) its good capitalisation and (iii) its sustained strong underwriting profitability with the five year average combined ratio (COR) of 83.8% at YE 2019.