Kazakhstan Sovereign Rating Limits Rating of IC Eurasia
OREANDA-NEWS. August 28, 2013. Kazakhstan's sovereign rating limits the rating of the insurance company Eurasia, said the President of the insurance company Boris Umanov at a conference in Almaty.
"Unfortunately, our ratings will always be limited by the sovereign rating, so when the economy is growing, when its international prestige is enhanced, we expect our ratings to rise. Both Russia and Kazakhstan have normal companies, but their ratings are a bit lower than those of companies, say, in Germany or Italy," said B. Umanov.
The same opinion is shared by the Deputy Chairman of the insurance company Nazym Tulchinsky. In particular, he cited an example where some rating agencies say privately that if the insurance company Eurasia worked in other jurisdictions with higher parity ceiling, its rating would be much higher.
In this case, the top management of the insurance company said that shareholderss' goal is to develop the company as the insurer from Kazakhstan.