2017:

15/09/2017, the rating agency Standard and Poor’s upgraded rating of Cyprus based company KLPP Insurance and Reinsurance Company Ltd. to “BB-”, outlook «Stable».

Rating assessment was raised after less than a year of issuing initial rating and reflects, in the opinion of the rating agency, improvements in the Company’s capital, as well as in the Insurer’s management system.
This result is fully in line with the plans of the Company’s management and display growing trend of gross written premium, which is taking place with serious overfulfilment of the plans.

The geographical presence of the Company is expanding in the framework of reinsurance activity in the overseas markets, as well as stable development in the home region carrying on.

The Company still fully meets all the requirements of the regulator, all indicators of Solvency II are kept at an unprecedented high level, can be confirmed by our auditor.
It is important to note that despite the active growth of gross written premium, loss ratio remains at a minimum level, reflecting the selective approach in underwriting and investment strategy.

In the future plans of the Company’s management, maintaining the growth trend ahead of plans while maintaining the key indicators at the planned level, expanding the geographical presence, strengthening the team and developing underwriting support using the latest IT technologies as the basis for successful business.
Full rating report can be found at the website: https://www.standardandpoors.com/en_US/web/guest/ratings/entity/-/org-details/sectorCode/INS/entityId/576069 (need registration)


2016:

04/11/16 the KLPP Insurance and Reinsurance Company Ltd. was assigned with

the rating from Standard and Poor`s “B+”, Outlook Stable.

Due to the starting stage of operations of the Company in the insurance field the assessment based on the capital from one hand and from the other – on the planned forecast for insurance operations which reflect selective underwriting and investment strategy.

The Company is fully compliant with all the requirement of regulator, Solvency II figures can be proven by our auditors.

Our whole team aimed to fulfill the plan and achieve the results which also include rating level increase in the nearest future.

Full rating report  can be found at the website: https://www.standardandpoors.com/en_US/web/guest/ratings/entity/-/org-details/sectorCode/INS/entityId/576069 (need registration)


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