6th May 2021: rating agency Standard and Poor’s affirmed their “BB+” rating on KLPP with Stable outlook.
According to the rating agency, KLPP will continue to execute its strategic plan to gradually build its franchise by expanding its business, with a focus on underwriting profitability and increasing scale and diversification. We also assume the company will maintain its excellent capital adequacy and conservative nvestment strategy.
Against a challenging economy affected by the COVID-19 pandemic, KLPP significantly increased its business.
The company attracted global business, mainly in the EU, North America, Asia, Latin America via its increasing broker network. At the same time, KLPP continues to diversify into different lines of business and invest in underwriting expertise and client management.
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)