S&P Upgrades Freedom Finance Insurance to ‘BB’ as…
By FinanceWire
AI summary of the source article
S&P Global Ratings has upgraded Freedom Finance Insurance JSC's long-term issuer credit and financial strength ratings from 'BB-' to 'BB' with a stable outlook, citing its growing market share and strengthened capital base in Kazakhstan.
Why it matters
According to S&P, the stronger capital base should help Freedom Insurance support further growth while maintaining its financial stability.
Key facts
- S&P upgraded Freedom Finance Insurance's rating from 'BB-' to 'BB' and its national-scale rating from 'kzA-' to 'kzA+'.
- The insurer's market share reached 9.7%, advancing it from 11th to third place in Kazakhstan's non-life insurance sector since 2022.
- The company's capital grew to KZT 52 billion (around $110 million) in 2026, up from KZT 35 billion in 2025.
Source excerpt · FinanceFeeds
NEW YORK, USA, November 11th, 2026, FinanceWire Freedom Finance Insurance has received a credit rating upgrade from S&P Global Ratings , reflecting its growing share of Kazakhstan’s insurance market, stronger financial results and improved capital position. The company has moved from 11th to third place in the country’s non-life insurance sector since 2022, while its market share has risen to 9.7%…