Kyobo Life gets AAA IFS rating for 18 consecutive years
Mi-Hyun Jo
May 30, 2024 (Gmt+09:00)
South Korea's Kyobo Life Insurance Co. announced on Thursday that it received the highest rating of AAA for insurer financial strength (IFS) from the three major domestic credit rating agencies: NICE Investors Service, Korea Ratings, and Korea Investors Service.
Kyobo Life stated that it has maintained the highest credit rating from NICE Investors Service for 18 consecutive years since 2007.
The AAA rating is the highest level of long-term insurance claim-paying ability, indicating that the company is stable enough to remain unaffected by adverse environmental conditions.
Kyobo Life also mentioned that it has maintained top-tier global credit ratings among domestic life insurers, receiving an A1 rating from Moody's Ratings for nine consecutive years and an A+ rating from Fitch Ratings for 12 years.