A.M. Best Places Ratings of Arab Reinsurance Company S.A.L. Under Review.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of B+ (Very Good) and the issuer credit rating of "bbb-" of Arab Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Company S.A.L. (Arab Re) (Lebanon Lebanon, country, Asia Lebanon (lĕb`ənən, –nŏn'), officially Republic of Lebanon, republic (2005 est. pop. 3,826,000), 4,015 sq mi (10,400 sq km), SW Asia. ) under review with negative implications. The under review status of Arab Re follows the potential negative impact on its investment portfolio deriving de·rive v. de·rived, de·riv·ing, de·rives v.tr. 1. To obtain or receive from a source. 2. from the difficult political situation in Lebanon. Although the majority of Arab Re's business portfolio originates from outside Lebanon (but within the Middle East region), the company is highly exposed to the domestic financial markets via fixed income securities, shares and bank deposits. In A.M. Best's opinion, the current social and economic instability instability /in·sta·bil·i·ty/ (-stah-bil´i-te) lack of steadiness or stability. detrusor instability in Lebanon is likely to have a negative bearing on domestically held assets, and therefore may significantly impact Arab Re's investment portfolio. A.M. Best will continue to monitor the situation in the region and aims to resolve the under review status as soon as possible. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
|
||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion