News Articles

Best’s Special Report: Takaful in the MENA Region: Finding the Right Ingredients for Success LONDON -Monday, May 14th 2018 [ar]

(BUSINESS WIRE)-- A.M. Best believes there are significant opportunities for takaful operators in most Middle East and North Africa (MENA) markets to provide sound financial protection that is in line with consumers’ religious sensibilities, taking into account the huge global Muslim...

A.M. Best Affirms Credit Ratings of Al Ahleia Insurance Company S.A.K.P. LONDON -Tuesday, May 1st 2018 [ar]

(BUSINESS WIRE)-- A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Al Ahleia Insurance Company S.A.K.P. (AAIC) (Kuwait). The outlook of these Credit Ratings (ratings) remains stable. The ratings reflect AAIC’s...

A.M. Best Affirms Credit Ratings of Kuwait Reinsurance Company K.S.C.P. LONDON -Tuesday, May 1st 2018 [ar]

(BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Kuwait Reinsurance Company K.S.C.P. (Kuwait Re) (Kuwait). The outlook of these Credit Ratings (ratings) remains stable. The ratings reflect Kuwait...

Best’s Special Report: Lebanese Insurers Continue to Demonstrate Resilience Despite Challenging Operating... LONDON -Saturday, March 24th 2018 [ar]

(BUSINESS WIRE) -- Insurance companies in Lebanon continue to operate in a challenging environment, with Lebanon’s history characterised by social and political divides, and the country presenting high levels of economic, political and financial systems risks, according to a new report...

Best’s Special Report: Regulatory Reforms Lead to Bumper Profits for National Insurers in the United Arab Emirates... LONDON -Saturday, February 24th 2018 [ar]

(BUSINESS WIRE) -- The insurance market of the United Arab Emirates (UAE) has continued its strong momentum in 2017 and returned exceptional profits, according to analysis of company results by A.M. Best. A new Best’s Special Report, “Regulatory Reforms Lead to Bumper Profits for...

Best’s Market Segment Outlook: Gulf Cooperation Council Market Outlook is Negative LONDON -Tuesday, February 13th 2018 [ar]

(BUSINESS WIRE)-- A.M. Best has a negative outlook on the insurance markets of the Gulf Cooperation Council (GCC). Insurers in the GCC (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates) have historically enjoyed significant capital buffers and benefited from extensive...

A.M. Best Assigns Credit Ratings to Jordan French Insurance Company Limited LONDON -Tuesday, February 13th 2018

(BUSINESS WIRE) -- A.M. Best has assigned a Financial Strength Rating of B (Fair) and a Long-Term Issuer Credit Rating of “bb+” to Jordan French Insurance Company Limited (JOFICO) (Jordan). The outlook assigned to these Credit Ratings (ratings) is positive. The ratings reflect JOFICO’s...

A.M. Best to Sponsor Dubai World Insurance Congress LONDON -Tuesday, February 13th 2018

(BUSINESS WIRE) -- A.M. Best is a silver sponsor of the Dubai World Insurance Congress event, hosted by Global Reinsurance & the Dubai International Financial Centre, 27-28 February in Dubai, United Arab Emirates. A.M. Best’s delegation will hold bilateral discussions at their meeting...

Best’s Special Report: Rated MENA Companies Maintain Strong Capitalisation Levels Despite Stifled Growth LONDON -Tuesday, February 6th 2018 [ar]

(BUSINESS WIRE)--Companies operating in the Middle East and North Africa (MENA) region have encountered supressed growth rates as economic and political uncertainties persist, although entities rated by A.M. Best have broadly maintained strong balance sheets. A new Best’s Special Report,...

A.M. Best Affirms Credit Ratings of The Bahrain National Insurance Company BSC (c) LONDON -Wednesday, December 6th 2017 [ar]

(BUSINESS WIRE)-- A.M. Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of The Bahrain National Insurance Company BSC (c) (BNI) (Bahrain). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect BNI’s...

Best’s Special Report: Stormy Currents Emerging for MENA Reinsurers LONDON -Wednesday, October 4th 2017 [ar]

(BUSINESS WIRE)-- Insurance markets in the Middle East and North Africa (MENA) region have continued to grow, with increased demand for products over the past decade driven by a period of high oil prices that has funded infrastructure development and increased commercial activity, and the...

A.M. Best to Host 2017 Insurance Market Briefing – MENA DUBAI, United Arab Emirates -Sunday, September 24th 2017 [ar]

(BUSINESS WIRE)-- A.M. Best will host its annual Insurance Market Briefing – MENA on Wednesday, 4 October, from 1:30 p.m. to 5:45 p.m. (GST), at the Fairmont Dubai, United Arab Emirates. A.M. Best will present its perspectives on rating trends for (re)insurers in key segments of the MENA...

A.M. Best Awarded International Best Ratings Agency for Takaful at the International Takaful Awards 2017 LONDON -Sunday, August 6th 2017 [ar]

(BUSINESS WIRE)-- A.M. Best received the award for International Best Ratings Agency for Takaful at the International Takaful Awards 2017, held in conjunction with the 11th International Takaful Summit in London. This is the third consecutive year that A.M. Best has been awarded the...

A.M. Best Briefing: VAT Implementation Poses Significant Challenges for GCC Insurers LONDON -Wednesday, May 31st 2017 [ar]

(BUSINESS WIRE)-- Uncertainty persists as to when precisely Value Added Tax (VAT) will be introduced in the member states of the Gulf Cooperation Council (GCC), and the process surrounding a roll-out. However, given the fiscal pressures in the region, the introduction of taxation seems...

CORRECTING and REPLACING A.M. Best Special Report: National Insurers in the United Arab Emirates Back in the Black LONDON -Tuesday, February 28th 2017 [ar]

(BUSINESS WIRE)-- First set of data in third graph of release dated February 23, 2017 should read: "AED 885 million (USD 241 million)" [instead of "AED 926 million (USD 252 million)"]. First sentence, fourth graph should read: "... a total of 23 companies generated an operating profit in...

A.M. Best Special Report: National Insurers in the United Arab Emirates Back in the Black LONDON -Sunday, February 26th 2017 [ar]

(BUSINESS WIRE)-- After an extremely challenging year of underwriting and investment losses for many market participants during 2015, the United Arab Emirates (UAE) insurance market has swung back into the black in 2016. The market has endured regulatory upheaval in the past year as it seeks...

A.M. Best Special Report: Stability Returns to Saudi Insurers but Growth Prospects Remain Cloudy LONDON -Friday, February 17th 2017 [ar]

(BUSINESS WIRE)-- The Saudi insurance market appears to have finally turned the corner following a period of underwriting volatility, according to analysis by A.M. Best. A review of preliminary disclosures by national insurers in Saudi Arabia shows a marked improvement in operating...

A.M. Best Special Report: Middle Eastern Insurers Maintain Strong Capital Levels to Offset Volatility LONDON -Wednesday, February 8th 2017 [ar]

(BUSINESS WIRE)-- Insurers and reinsurers operating in the Middle East are well capitalised, although fiscal budget pressures and pockets of political instability overshadow strong balance sheets. Commercial activity is highly correlated to oil demand and the recent period of low energy prices...

A.M. Best to Sponsor Dubai World Insurance Congress Dubai, United Arab Emirates -Tuesday, February 7th 2017 [ar]

(BUSINESS WIRE)-- A.M. Best is a sponsor of the first Dubai World Insurance Congress event, to be held 28 February - 1 March 2017 in Dubai, United Arab Emirates. Hosted by Global Reinsurance, the Dubai International Financial Centre and the DIFC Insurance Association, the Dubai World...

A.M. Best Briefing: GCC Insurers Must Monitor Impact of Changing Terms for High-Rise Property Insurance LONDON -Saturday, January 28th 2017 [ar]

(BUSINESS WIRE)-- Insurers in Gulf Cooperation Council (GCC) markets are coming under pressure to increase retention levels for high-rise buildings to demonstrate their alignment of interests with those of reinsurers, according to new research by A.M. Best. In a new Best’s Briefing, titled...

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