A.M. Best has assigned the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of "bb-" to Nomad Life Insurance Company JSC (Nomad Life) (Kazakhstan). The outlook assigned to these Credit Ratings (ratings) is stable. Nomad Life is a wholly owned subsidiary of Nomad Insurance Group Limited, a non-operating holding company also domiciled in Kazakhstan.
The ratings of Nomad Life reflect its adequate risk-adjusted capitalisation, volatile operating performance and established business profile in the local life insurance market. The ratings also consider Nomad Life's limited diversification and the high country risk of Kazakhstan. Read the full story
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