Moody's rates Kommesk-Omir B3

Moody's Investors Service said it assigned a first-time insurance financial strength rating of B3 to Kommesk-Omir JSC.

The outlook is stable.

The rating is based on Kommesk-Omir's adequate position within the Kazakhstan insurance market supported by its relatively low risk investment strategy - with limited exposure to equities, its long history of insurance provision in Kazakhstan and its ownership by Centras group, which could provide risk management expertise, Moody's said.

These positives are offset by the company's exposure to a relatively weak economy, competitive pressures, low market share and uncertainty over long-term ownership of the company, the agency said.

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