Best, Places

A.M. Best has placed under review with negative implications the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb” of Halyk-Kazakhinstrakh, Insurance Subsidiary Company of Halyk Bank of Kazakhstan, JSC (Kazakhinstrakh) (Kazakhstan).

06.02.2018 - 14:44:20

A.M. Best Places Credit Ratings of Halyk-Kazakhinstrakh, Insurance Subsidiary Company of Halyk Bank of Kazakhstan, JSC, Under Review with Negative Implications. These Credit Rating (rating) actions follow the company’s announcement on 25 January 2018 of its shareholder agreement to merge its sister insurer, JSC IC Kazkommerts-Policy (Kazkommerts-Policy), into Kazakhinstrakh. The merger decision follows the 2017 acquisition of JSC Kazkommertsbank, Kazkommerts-Policy’s parent, by JSC Halyk Bank, Kazakhinstrakh’s parent.

The merger is subject to regulatory approvals and is expected to complete during 2018. The ratings will remain under review until A.M. Best has completed its evaluation of the impact of the merger on Kazakhinstrakh’s rating fundamentals and the transaction has closed.

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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