S&P analysts noted the improvement of Freedom Finance Insurance's operating performance, strong profitability, growth in scale and increased diversification of the portfolio. Furthermore, S&P analysts highlighted the business structure diversification, measures to improve underwriting practices and a conservative investment portfolio.
"The stable forecast of Freedom Finance Insurance's rating reflects our expectation that the insurance company will continue to expand and broaden its business over the next 12 months, while maintaining strong profitability and solid capital ratios." - S&P Global Ratings stated in the report.
The agency may take a positive rating action in case of improvement of capitalisation indicators and improvement of competitive position due to stable high operational indicators, successful implementation of business plans and growth strategy.