The negative economic environment in Kazakhstan, in particular the slowdown of the Kazakh economy, the pronounced drop in international oil prices, sharp devaluation of the Kazakhstani tenge, and increased liquidity and funding risks in the banking sector, negatively affects our assessment of country risk. Nevertheless, the insurance sector's profitability remains positive for insurance companies operating in Kazakhstan, which balances the deterioration in country risk. Therefore, in our view, Kazakhstan's property/casualty insurance sector carries overall moderate risk, a combination of high country risk and intermediate industry risk. MOSCOW (Standard&Poor's) Oct. 15, 2015--Standard&Poor's Ratings Services said today that its industry and country risk assessment for Kazakhstan's property/casualty (P/C) insurance industry remained moderate, despite increased country risk. In our
