Fitch assigns "B" rating to the State Insurance Organization of Turkmenistan; Outlook Stable

January 29, 2025 | 14:05 |5446

Fitch Ratings, an international rating agency, has assigned an Insurer Financial Strength (IFS) rating and a Long-Term Issuer Default Rating (IDR) of "B" to the State Insurance Organization of Turkmenistan (SIOT). The outlook on the ratings is stable.

This is stated in Fitch Ratings' commentary on the rating action dated January 27, 2025.

Fitch notes that the key factors influencing the ratings are state ownership and support, leading positions as the largest insurance company in Turkmenistan, as well as strong underwriting results and adequate financial performance.

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