A.M. Best Places Ratings of Egyptian Insurers Under Review.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A- (Excellent) and the issuer credit rating (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "a-" of Misr Misr: see Egypt. Insurance Company (Misr) under review with negative implications. A.M. Best also has placed the FSR of B++ (Good) and the ICR of "bbb" of Egyptian 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 (Egypt Re) and Al Chark Insurance Company (Al Chark) under review with developing implications. These rating actions follow the Insurance Holding Company's (the sole shareholders of the three state-owned companies) announcement to merge Egypt Re and Al Chark with Misr. A.M. Best expects to resolve the under review status soon after the merger has been completed and details have been clarified. 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. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and healthcare service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion