Moody’s af­fir­ma­tion for Kuwait In­sur­ance

The National - News - - BUSINESS -

Moody’s In­vestors Ser­vice has af­firmed the A3 in­sur­ance fi­nan­cial strength rat­ing of Kuwait In­sur­ance Com­pany. The out­look for KIC re­mains stable. “KIC’s strong po­si­tion in the do­mes­tic mar­ket with an es­tab­lished brand and a good rep­u­ta­tion for ser­vice and its good and strength­en­ing cap­i­tal­i­sa­tion” were the fac­tors for the rat­ing, Moody’s said. In ad­di­tion, Moody’s noted that KIC has made ma­jor strides in ad­vanc­ing its gov­er­nance and risk man­age­ment struc­ture with, for ex­am­ple, the set-up of an in-house ac­tu­ar­ial de­part­ment.

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