Kyobo Life Insurance "Achieves Industry-Top Level Credit Rating"

[Asia Economy Reporter Changhwan Lee] Kyobo Life Insurance announced on the 25th that it has obtained the highest credit rating in the insurance industry from a global credit rating agency.

Kyobo Life recently received an A+ (Stable) credit rating from Fitch. Since first receiving the 'A+' rating in the life insurance industry in 2013, it has maintained this rating for 10 consecutive years. The A+ rating is the fifth highest among a total of 24 credit ratings.

Fitch explained in its report, "The A+ rating reflects Kyobo Life's excellent capital adequacy and sound profitability," adding, "It maintained solid capital adequacy and a low financial leverage ratio even during the ongoing COVID-19 pandemic."

Furthermore, Fitch expects Kyobo Life to maintain financial soundness in the future and rated the rating outlook as 'Stable.'

Moody's also assigned Kyobo Life the highest credit rating in the insurance industry, A1 (Stable), in January. This marks the eighth consecutive year since it first received the 'A1' rating as a domestic life insurer in 2015.

A Kyobo Life official stated, "Obtaining a high credit rating from global credit rating agencies is an international recognition of our stable financial structure and risk management capabilities," adding, "We will continue our steady growth based on proactive risk management and stable asset management."

This content was produced with the assistance of AI translation services.