KB Insurance obtains Moody's credit rating of 'A2 (Stable)'
[Asia Economy Reporter Changhwan Lee] KB Insurance recently announced on the 15th that it has obtained an insurance payment capability credit rating of 'A2' from Moody's, one of the world's top three credit rating agencies, and received a 'stable' outlook for the future.
Moody's stated, "The proportion of contracts sensitive to market and interest rate risks among KB Insurance's insurance contracts is small, so it is expected to maintain solid capital adequacy under the new solvency regime (K-ICS) to be fully implemented from next year."
Moody's also emphasized, "As the only non-life insurance company within KB Financial Group and a wholly owned subsidiary, it holds a strategically important position for the parent company, which is a positive factor."
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A KB Insurance official said, "With the acquisition of Moody's 'A2' credit rating, we expect to enjoy an objective enhancement of external trust from policyholders and investors."
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