The international ratings agency has assigned the State Insurance Organization of Turkmenistan (SIOT) an Insurer Financial Strength (IFS) Rating and a Long-Term Issuer Default Rating (IDR) of ‘B’. The Rating Outlooks are Stable.
This was stated in a Rating Action Commentary by FitchRatings on 27 January 2025.
Fitch says that the key ratings drivers include the state ownership and support, the leading position of SIOT as the largest insurance company in Turkmenistan, and the strong underwriting results and adequate financial performance.