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A.M. Best Withdraws Credit Ratings of Standard Insurance Company JSC

A.M. Best has affirmed the Financial Strength Rating of C++ (Marginal) and the Long-Term Issuer Credit Rating of "b+" of Standard Insurance Company JSC (Standard) (Kazakhstan). The outlook of these Credit Ratings (ratings) remains stable.

Concurrently, A.M. Best has withdrawn the ratings as the company has requested to no longer participate in A.M. Best's interactive rating process.

The ratings reflect Standard's balance sheet strength, which A.M. Best categorises as strong, as well as its marginal operating performance, very limited business profile and weak enterprise risk management.