Moody’s Assigns First-Time Insurance Financial Strength Ratings to Freedom Insurance and Freedom Life

Moody’s assigns inaugural strength ratings to Freedom’s insurance units, including the group’s first investment‑grade mark at the Baa3 level.

Rhea-AI Summary

Freedom Holding Corp (FRHC) announced that Moody’s Ratings assigned first-time insurance financial strength ratings to its subsidiaries Freedom Insurance and Freedom Life, both with stable outlooks.

Freedom Insurance received Ba1 local- and foreign-currency ratings. Freedom Life received a Baa3 rating, making it the first Freedom entity to obtain an investment-grade Moody’s rating. Moody’s cites Freedom Insurance’s market position, asset quality, conservative investment strategy and capital adequacy as strengths; it ranked third in Kazakhstan’s non-life market in 2025 with about 10% share and held roughly 90% of its invested assets in fixed-income instruments. Freedom Life is among Kazakhstan’s three largest life insurers with about 20% market share by premiums in 2025. Moody’s also highlights both insurers’ integration into the broader Freedom ecosystem, supported by the Freedom SuperApp, which had over 5 million registered users by March 2026.

Positive

• Freedom Life Baa3 rating is the group’s first Moody’s investment-grade mark
• Freedom Insurance Ba1 rating with stable outlook underpins its credit profile
• 10% non-life market share for Freedom Insurance in Kazakhstan in 2025
• 20% life insurance market share for Freedom Life in Kazakhstan in 2025
• 90% of assets in fixed income at Freedom Insurance supports conservative portfolio
• 5+ million Freedom SuperApp users by March 2026 enhance ecosystem reach

Negative

• None.

Argus Sep 4 session

+0.67% close to close Open Argus

Details

News Market Reaction – FRHC

On Sep 4, the day this news came out, FRHC closed 0.67% above the previous close.

Data tracked by StockTitan Argus for the Sep 4 session.

Key Figures

Freedom Insurance rating: Ba1 Freedom Life rating: Baa3 Freedom Insurance market share: around 10% +3 more

Freedom Insurance rating

Ba1

First-time local- and foreign-currency insurance financial strength rating

Freedom Life rating

Baa3

First-time insurance financial strength rating; investment-grade

Freedom Insurance market share

around 10%

Kazakhstan non-life insurance market in 2025

Fixed-income assets

approximately 90%

Freedom Insurance invested assets

Freedom Life market share

approximately 20%

Kazakhstan life insurance market by premiums in 2025

SuperApp users

more than 5 million

Registered users by March 2026

Historical Context

5 past events · Latest: Aug 19

5 events

1. Aug 19

   Brokerage license

   24h Move

   -1.0%

   Türkiye brokerage license expanded Freedom's capital-markets infrastructure

2. Aug 10

   Revenue report

   24h Move

   +0.7%

   Quarterly revenue increased 40% despite lower net income

3. Aug 10

   Earnings report

   24h Move

   +0.7%

   Net income and diluted earnings per share declined year over year

4. Jul 31

   Bank acquisition

   24h Move

   +1.0%

   Turkish Bank acquisition established Freedom's entry into banking

5. Jul 13

   Share offering

   24h Move

   -3.2%

   Ordinary share offering raised US$300 million through new shares

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

insurance financial strength ratings, investment-grade rating, gross written premiums, fixed-income instruments

4 terms

insurance financial strength ratings financial

"Moody’s Ratings has assigned insurance financial strength ratings to two Freedom Holding"

Ratings assigned by independent rating agencies that judge an insurance company’s ability to pay claims and meet long-term obligations; think of them as a credit score for an insurer. They combine analysis of capital strength, profitability, risk exposure, underwriting, and management quality to indicate how likely policyholders and creditors are to be paid. Investors use these ratings to gauge the insurer’s financial stability and the relative risk of owning its stock or debt.

investment-grade rating financial

"the first company within Freedom Holding Corp. to receive an investment-grade rating"

An investment-grade rating is a credit score assigned by a rating agency that signals a borrower—such as a company or government—is considered low risk of failing to pay its debts. For investors, this is like a product safety label or a person’s good credit score: it typically means lower chance of losing principal, steadier interest payments, and cheaper borrowing costs for the issuer, so these securities are often used in conservative portfolios.

gross written premiums financial

"Kazakhstan’s non-life insurance market by gross written premiums in 2025"

Gross written premiums are the total amount of money an insurance company charges for all the policies it sells during a specific period, before subtracting any costs or claims. It's like the total sales a store makes from all its products before deducting expenses. This figure shows how much business the insurer is taking on and helps gauge its size and growth.

fixed-income instruments financial

"its invested assets were held in fixed-income instruments"

Fixed-income instruments are debt securities that represent a borrower’s obligation to pay an investor a set stream of cash flows—typically regular interest payments and return of principal—over a defined period. Think of them like a formal IOU (bonds, notes, bills, certificates of deposit, or mortgage-backed securities) that matter to investors because they provide predictable income, help balance risk in a portfolio, and are sensitive to credit quality and interest-rate changes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Moody’s Ratings has assigned insurance financial strength ratings to two Freedom Holding Corp. (Nasdaq: FRHC) insurance subsidiaries for the first time. Freedom Finance Insurance JSC, operating as Freedom Insurance, received Ba1 local- and foreign-currency insurance financial strength ratings, while Freedom Life JSC received Baa3 ratings. Both carry stable outlooks.

The Baa3 rating makes Freedom Life the first company within Freedom Holding Corp. to receive an investment-grade rating from Moody’s. The agency began expanding its coverage of Freedom earlier this year, assigning a Ba3 rating to Freedom Bank Kazakhstan in March.

“Moody’s ratings for our insurance companies confirm that within the Freedom ecosystem we can support not only the rapid growth of the ecosystem as a whole, but also the development of each individual business. We see significant potential in combining traditional insurance products with modern technology. This allows us to offer the market more effective solutions, reduce our own costs and launch unique products,” said Timur Turlov, CEO of Freedom Holding Corp.

Moody’s highlights Freedom Insurance’s market position, asset quality, conservative investment strategy and capital adequacy among its key strengths. The company ranked third in Kazakhstan’s non-life insurance market by gross written premiums in 2025, with a market share of around 10%. Approximately 90% of its invested assets were held in fixed-income instruments.

Freedom Life is among Kazakhstan’s three largest life insurers and held approximately 20% of the market by premiums in 2025. Moody’s points to the company’s asset quality, capitalization and profitability as key strengths.

Moody’s also points to the insurers’ integration into the wider Freedom Holding Corp. ecosystem as a factor supporting their market positions. The shared brand, cross-selling opportunities and Freedom SuperApp help both companies reach customers across the ecosystem. By March 2026, the SuperApp had surpassed 5 million registered users.

About Freedom Holding Corp.

Freedom Holding Corp. provides financial services in 24 countries, including Kazakhstan, the United States, multiple EU countries, Uzbekistan, and Armenia. The Company’s principal executive office is located in New York City. In Kazakhstan, Freedom is actively developing its financial and digital ecosystem, which includes Freedom Bank, Freedom Broker, the insurance companies Freedom Life and Freedom insurance, as well as a lifestyle segment that features Arbuz.kz, Freedom Ticketon, and Aviata. Freedom Holding Corp. shares are traded on the U.S. technology exchange NASDAQ, the Kazakhstan Stock Exchange (KASE), and the Astana International Exchange (AIX) under the ticker symbol FRHC. Freedom Holding Corp. is regulated by the U.S. Securities and Exchange Commission (SEC) and the common stock is included in the Russell 3000 Index.

Contact

Head of Public Relations
Natalia Kharlashina
Freedom Holding Corp.
prglobal@ffin.kz
+77013641454

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/a9699382-765c-4884-a2ac-96ecca37f246

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What ratings did Moody’s assign to Freedom Insurance and Freedom Life (FRHC)?

Moody’s assigned Freedom Finance Insurance JSC, operating as Freedom Insurance, Ba1 local- and foreign-currency insurance financial strength ratings. Freedom Life JSC received a Baa3 insurance financial strength rating. Both ratings carry stable outlooks.

Why is the Moody’s Baa3 rating for Freedom Life important for FRHC shareholders?

The Baa3 rating for Freedom Life is the first investment-grade rating any Freedom Holding Corp company has received from Moody’s. This establishes an investment-grade benchmark within the group’s ecosystem, which may support perceptions of credit quality.

How strong is Freedom Insurance’s market position according to the Moody’s rating for FRHC’s subsidiary?

Moody’s notes Freedom Insurance’s market position as a key strength. The company ranked third in Kazakhstan’s non-life insurance market by gross written premiums in 2025, with a market share of around 10%, and held about 90% of invested assets in fixed-income instruments.

What is Freedom Life’s market share in Kazakhstan as highlighted in the Moody’s rating for FRHC?

Freedom Life is among Kazakhstan’s three largest life insurers and held approximately 20% of the life insurance market by premiums in 2025. Moody’s points to the company’s asset quality, capitalization and profitability as key strengths supporting its Baa3 rating.

How does the Freedom ecosystem, including the SuperApp, factor into Moody’s ratings for FRHC’s insurers?

Moody’s cites the insurers’ integration into the Freedom ecosystem as a supporting factor for their market positions. The shared brand, cross-selling opportunities and the Freedom SuperApp, which exceeded 5 million registered users by March 2026, help both insurers reach customers.

Which other Freedom Holding Corp entity has a Moody’s rating and what is it?

Moody’s expanded its coverage earlier in 2026 by assigning a Ba3 rating to Freedom Bank Kazakhstan in March. This bank rating complements the new Ba1 and Baa3 insurance financial strength ratings for Freedom Insurance and Freedom Life.

Where does Freedom Holding Corp (FRHC) operate and list its shares?

Freedom Holding Corp provides financial services in 24 countries, including Kazakhstan, the United States, several EU countries, Uzbekistan and Armenia. Its shares trade under ticker FRHC on Nasdaq, the Kazakhstan Stock Exchange (KASE) and the Astana International Exchange (AIX).