Mubasher: Moody's Investors Service affirmed the A3 insurance financial strength rating (IFSR) of Kuwait Insurance Company (KIC), with a stable outlook.

The rating reflects KIC's strong position in the domestic market with an established brand and a good reputation for service and its good and strengthening capitalisation with a gross underwriting leverage (GUL), the ratings agency said in a report on Thursday.

The stable outlook for KIC is underpinned by the view that the company will continue to organically grow its capital by way of profitable results, the report noted.