Moody’s Affirms KFH Takaful’s BAA2 Insurance Financial Strength Rating with Stable Outlook

Moody's Investors Service (Moody's) has affirmed the BAA2 Insurance Financial Strength Rating of Kuwait-based KFH Takaful Insurance Company (KFH), with a Stable Outlook.

The affirmation of the rating is an indication that Moody’s expects KFH to maintain a good capitalisation level in spite of recent market volatility, a strong market position as the second largest Takaful and sixth largest overall insurance group in Kuwait, as well as a good underwriting profitability. In addition, the BAA2 rating is also supported by KFH’s well diversified product portfolio as well as relatively strong asset quality with high risk assets (HRA) equating to less than 60% of consolidated equity as of end of year 2019.