News Articles

AM Best Named Best International Ratings Agency for Takaful at 2019 International Takaful Awards LONDON -Tuesday 16 July 2019

(BUSINESS WIRE) -- AM Best has been named the “International Best Ratings Agency” for Takaful at the International Takaful Awards 2019, held in conjunction with the 13th International Takaful Summit at the Millennium Gloucester Hotel in London. The International Takaful Awards recognise...

Best’s Market Segment Report: Bahrain’s Insurance Market’s Shine Fades, but Segment Still Prospering ... -Thursday 11 July 2019

(BUSINESS WIRE)-- Bahrain was once considered a centre of excellence for Middle East insurance and reinsurance, but its position as a hub has been overtaken by some of its neighbours, according to a new AM Best report. The Best’s Market Segment Report, titled, “Bahrain’s Insurance...

Best’s Special Report: Jordan Insurance Ratings: Benchmarking -Thursday 30 May 2019

(BUSINESS WIRE) -- The Jordan insurance market remains highly competitive, with pressure on technical performance accompanied by economic challenges, according to a new special report by AM Best. In the Best’s Special Report, titled, “Jordan Insurance Ratings: Benchmarking,” AM Best...

AM Best Affirms Credit Ratings of Al Ahleia Insurance Company S.A.K.P. -Wednesday 1 May 2019

(BUSINESS WIRE)—AM 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. (Al Ahleia) (Kuwait). The outlook of these Credit Ratings (ratings) remains stable. The ratings reflect Al...

AM Best Affirms Credit Rating of Kuwait Reinsurance Company K.S.C.P. -Tuesday 30 April 2019

(BUSINESS WIRE) -- AM 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: UAE Takaful Companies Catching Up with Conventional Peers on Profitability in Highly... -Tuesday 16 April 2019

(BUSINESS WIRE)-- Takaful operators continue to gain traction in the United Arab Emirates (UAE) insurance market as the Takaful segment’s profitability has improved significantly in recent years, according to a new special report by AM Best. In its analysis of the preliminary disclosures of...

Best’s Special Report: Middle East and North Africa Insurance Ratings: Benchmarking -Wednesday 6 March 2019

(BUSINESS WIRE) -- The Middle East and North Africa (MENA) insurance markets have seen robust growth over the last decade, according to a new report by AM Best. However, in recent years, the region’s economic growth has slowed, attributable largely to the global economic slowdown and the...

Best’s Market Segment Report: AM Best Revises Outlook to Stable for GCC Market -Sunday 3 March 2019

(BUSINESS WIRE) -- AM Best has revised its outlook on the insurance markets of the Gulf Cooperation Council (GCC) to stable from negative. Key factors supporting the outlook include the settling down of geo-political risks, limited disruption caused by the implementation of value-added tax,...

Best’s Briefing: Profits Continue to Rise for National Insurers in the United Arab Emirates -Wednesday 20 February 2019

(BUSINESS WIRE)-- The insurance market of the United Arab Emirates (UAE) continued its earnings momentum in 2018 to post a second consecutive year of bumper profits. AM Best’s analysis of the preliminary disclosures of the national insurers listed on the Abu Dhabi Securities Exchange (ADX) and...

Best’s Special Report: Middle Eastern and African Rated Insurers Well Capitalised to Offset Regional Risks ... -Tuesday 29 January 2019

(BUSINESS WIRE) - Suppressed oil prices have impacted the economies of countries in the Middle East and Africa, although (re)insurers rated by AM Best in the region generally remain well-capitalised, according to a new special report by AM Best. In the Best’s Special Report, titled,...

Best’s Special Report: Cash Collection Remains Problematic for Insurers in the United Arab Emirates -Wednesday 16 January 2019

(BUSINESS WIRE)-- The challenges faced by insurers in the United Arab Emirates (UAE) in relation to insurance debtors can apply additional pressure on already distressed technical margins, according to a new report by AM Best. In the Best’s Special Report, titled, “Cash Collection Remains...

Best’s Market Segment Report: Longstanding MENA Reinsurers Demonstrate Resilience in Tough Market Conditions ... -Tuesday 18 September 2018

(BUSINESS WIRE)-- The Middle East and North African (MENA) reinsurance industry is characterised by its challenging market conditions, borne out of unabating pressure on pricing, overcapacity, and a higher-than-expected number of large losses in recent years, according to a new report by A.M....

Best’s Briefing: Takaful Trends: Breaking the Reliance on the Qard’ Hasan -Wednesday 15 August 2018

(BUSINESS WIRE)-- As competitive market conditions create significant underwriting losses in the (re)takaful sector, many operators based in the Middle East and North Africa (MENA) region have become dependent on the Qard’ Hasan, according to a new briefing by A.M. Best. However, the...

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