Best, Comments

A.M. Best has commented that the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of “b+” of JSC IC Kazkommerts-Policy (Kazkommerts-Policy) (Kazakhstan) remain unchanged following an announcement on 25 January 2018 by its sister company, Halyk-Kazakhinstrakh, Insurance Subsidiary Company of Halyk Bank of Kazakhstan, JSC (Kazakhinstrakh), of the latter’s shareholder agreement to merge Kazkommerts-Policy into Kazakhinstrakh.

06.02.2018 - 14:51:35

A.M. Best Comments on Credit Ratings of JSC IC Kazkommerts-Policy Following Announcement on Merger with a Sister Company. The merger decision follows the 2017 acquisition of JSC Kazkommertsbank, Kazkommerts-Policy’s parent, by JSC Halyk Bank (Halyk Bank), Kazakhinstrakh’s parent.

The merger is subject to regulatory approvals and is expected to complete during 2018. A.M. Best will continue to monitor closely Kazkommerts-Policy’s rating fundamentals ahead of the planned merger. Further deterioration of risk-adjusted capitalisation, for example due to the additional extraction of capital, could place negative pressure on the company’s ratings.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.


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