News Articles

Best’s Market Segment Report: GCC Natural Catastrophe and Man-Made Losses Highlight Importance of Enterprise Risk... LONDON -Sunday 29 July 2018

(BUSINESS WIRE)-- The Gulf Cooperation Council (GCC) countries have traditionally been exposed to low levels of weather-related claims, although Cyclone Mekunu, which struck Oman in May 2018, Super Cyclone Gonu in 2007 and flooding in the United Arab Emirates (UAE) and Saudi Arabia serve as...

A.M. Best Awarded International Best Ratings Agency for Takaful at the International Takaful Awards 2018 -Wednesday 18 July 2018

(BUSINESS WIRE)-- A.M. Best has been voted the International Best Ratings Agency for Takaful at the International Takaful Awards 2018, held in conjunction with the 12th International Takaful Summit in London. This is the fourth consecutive year that A.M. Best has won the award. The...

Best’s Market Segment Report: Jordan's Challenging Environment Constrains Profitable Growth -Thursday 21 June 2018

(BUSINESS WIRE)-- Insurance companies operating in Jordan face challenging market conditions, with competition eroding technical margins, coupled with exposure to political, economic and financial system risks, according to a new market segment report by A.M. Best. Furthermore, the high number...

A.M. Best to Attend 32nd General Arab Insurance Federation Conference -Tuesday 22 May 2018

(BUSINESS WIRE)-- A.M. Best will attend and hold bilateral meetings at the 32nd General Conference of the General Arab Insurance Federation (GAIF), to be held 24–27 June in Hammamet, Tunisia. The theme of the event is, “Digital Transformation and the Insurance Industry in the Arab...

Best’s Special Report: Takaful in the MENA Region: Finding the Right Ingredients for Success -Monday 14 May 2018

(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. -Tuesday 1 May 2018

(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. -Tuesday 1 May 2018

(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... -Saturday 24 March 2018

(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... -Saturday 24 February 2018

(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 -Tuesday 13 February 2018

(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 -Tuesday 13 February 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 -Tuesday 13 February 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 -Tuesday 6 February 2018

(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) -Wednesday 6 December 2017

(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 -Wednesday 4 October 2017

(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 -Sunday 24 September 2017

(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 -Sunday 6 August 2017

(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 -Wednesday 31 May 2017

(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 -Tuesday 28 February 2017

(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 -Sunday 26 February 2017

(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...

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