[Asia Economy Reporter Changhwan Lee] Kyobo Life Insurance announced on the 28th that it has received the highest rating of AAA in the Insurance Financial Strength (IFS) evaluations conducted by NICE Credit Rating, Korea Ratings, and Korea Investors Service.
In particular, Kyobo Life Insurance has maintained the highest credit rating from NICE Credit Rating for 16 consecutive years since 2007.
The 'AAA' rating signifies that the company’s long-term insurance payment capability is at the highest level and is stable enough to withstand adverse environmental conditions.
The three major credit rating agencies highly evaluated Kyobo Life Insurance for demonstrating stable profit-generating ability based on high profitability, as well as maintaining excellent asset soundness and capital adequacy.
Kyobo Life Insurance’s return on invested assets has exceeded the industry average for several years. To proactively respond to capital regulations, the company has implemented active asset management strategies such as bond reclassification, which has led to improvements in profitability and capital adequacy.
Based on its excellent brand recognition, Kyobo Life Insurance maintains a top-tier market position in the industry and has received favorable evaluations in insurance sales. The high proportion of protection-type insurance contributes to the stability of premium income, and the company is recognized for having a well-balanced insurance portfolio.
A Kyobo Life Insurance representative stated, "Our management philosophy centered on customer protection, stable asset management, and thorough risk management have contributed to this positive evaluation. We will continue to do our best to achieve excellent results based on customer-centric management faithful to the essence of life insurance."
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