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.
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