[THE INVESTOR] Moody’s Investors Service has assigned the insurance financial strength rating of Kyobo Life Insurance, Korea’s third-largest life insurer by assets, to A1 for the second year in a row, the firm said on June 21. The rating outlook is stable.
Last year, the ratings agency upgraded Kyobo Life Insurance’s rating from A2 to A1 for the insurer’s improvement in profitability and financial stability.
Kyobo is the first Korean insurance firm that received the A1 rating from Moody’s.
Big name Korean companies like Samsung Electronics Co. and other commercial banks have received an A1 grade from the rating agency.
“Moody’s picked Kyobo’s consistently solid capital strength, diversified sales channel and high productivity of financial planners as our forte,” an official at the firm said.
By Park Han-na (
hnpark@heraldcorp.com)