Moody’s Ratings has assigned Kazakhstan life insurer Freedom Life an insurance financial strength rating of Baa3 with a stable outlook, marking the insurer’s first investment-grade rating.
The Baa3 rating sits above the company’s current BB+ rating from S&P Global Ratings and corresponds to BBB- on the S&P and Fitch scales. Moody’s noted that Freedom Life ranks third in Kazakhstan’s life insurance market with a roughly 20% share of gross written premiums in 2025, while its capital position strengthened as its equity-to-total-assets ratio rose from 24% in 2024 to 30% in 2025. The company’s net profit in 2025 increased by 36%, rising from 12.5 billion to 17 billion tenge.
