Moody’s affirmation for Kuwait Insurance

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.