HONG KONG, Nov 13 (Bernama-BUSINESS WIRE) -- Fifth paragraph, first sentence of release dated November 6, 2020, should read: KBI’s operating performance is assessed as adequate with a five-year average consolidated return-on-equity ratio of 9.4% (instead of KBI’s operating performance is assessed as adequate with a five-year average consolidated return-on-equity ratio of 8.9%).
The updated release reads:
AM BEST AFFIRMS CREDIT RATINGS OF KB INSURANCE CO., LTD.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of KB Insurance Co., Ltd. (KBI) (South Korea). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect KBI’s balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect the support that the company receives from its parent, KB Financial Group Inc. (KB Group) and its strategic importance to KB Group.
CORRECTING AND REPLACING AM BEST AFFIRMS CREDIT RATINGS OF KB INSURANCE CO., LTD.
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