Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

Bahrain - AM Best Assigns Credit Ratings to Takaful International Co.

Wednesday, 02 05 2020, Category: Rating, Country: Bahrain
AM Best has assigned a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” to Takaful International Company BSC (gig-Bahrain Takaful) (Bahrain), the ultimate parent of which is Gulf Insurance Group K.S.C.P. (GIG). Gig-Bahrain Takaful is a member of GIG’s non-lead rating unit, Bahrain Kuwait Insurance Company B.S.C. (gig-Bahrain). The outlook assigned to these Credit Ratings (ratings) is stable.

The ratings reflect gig-Bahrain’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect gig-Bahrain Takaful’s strategic importance to and integration with gig-Bahrain.

gig-Bahrain Takaful provides GIG with a platform to underwrite Islamic insurance business in Bahrain. The company is a leading takaful insurer in Bahrain, and following the acquisition of a controlling stake by gig-Bahrain in 2017, has increased GIG’s market share in the country to approximately 20%. Following its acquisition by gig-Bahrain, the company reported stronger technical results, with further improvements expected from operational synergies. The company also benefited from a material capital injection of BHD 2.3 million in 2018.

Source: Business Wire
All copyrights reserved, Arab Reinsurance 2016 ©