News Articles

A.M. Best Affirms Credit Ratings of The Bahrain National Insurance Company BSC (c) LONDON -Wednesday, December 6th 2017 [ar]

(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 LONDON -Wednesday, October 4th 2017 [ar]

(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 DUBAI, United Arab Emirates -Sunday, September 24th 2017 [ar]

(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 LONDON -Sunday, August 6th 2017 [ar]

(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 LONDON -Wednesday, May 31st 2017 [ar]

(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 LONDON -Tuesday, February 28th 2017 [ar]

(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 LONDON -Sunday, February 26th 2017 [ar]

(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...

A.M. Best Special Report: Stability Returns to Saudi Insurers but Growth Prospects Remain Cloudy LONDON -Friday, February 17th 2017 [ar]

(BUSINESS WIRE)-- The Saudi insurance market appears to have finally turned the corner following a period of underwriting volatility, according to analysis by A.M. Best. A review of preliminary disclosures by national insurers in Saudi Arabia shows a marked improvement in operating...

A.M. Best Special Report: Middle Eastern Insurers Maintain Strong Capital Levels to Offset Volatility LONDON -Wednesday, February 8th 2017 [ar]

(BUSINESS WIRE)-- Insurers and reinsurers operating in the Middle East are well capitalised, although fiscal budget pressures and pockets of political instability overshadow strong balance sheets. Commercial activity is highly correlated to oil demand and the recent period of low energy prices...

A.M. Best to Sponsor Dubai World Insurance Congress Dubai, United Arab Emirates -Tuesday, February 7th 2017 [ar]

(BUSINESS WIRE)-- A.M. Best is a sponsor of the first Dubai World Insurance Congress event, to be held 28 February - 1 March 2017 in Dubai, United Arab Emirates. Hosted by Global Reinsurance, the Dubai International Financial Centre and the DIFC Insurance Association, the Dubai World...

A.M. Best Briefing: GCC Insurers Must Monitor Impact of Changing Terms for High-Rise Property Insurance LONDON -Saturday, January 28th 2017 [ar]

(BUSINESS WIRE)-- Insurers in Gulf Cooperation Council (GCC) markets are coming under pressure to increase retention levels for high-rise buildings to demonstrate their alignment of interests with those of reinsurers, according to new research by A.M. Best. In a new Best’s Briefing, titled...

A.M. Best Special Report: Accelerating Competitive Conditions Pressurises Motor Insurance in the Middle East LONDON -Wednesday, October 5th 2016 [ar]

(BUSINESS WIRE)-- Given the critical role motor insurance plays in developing a company’s profile in a market, it is not surprising that it is one of the most fiercely competitive business segments in the Middle East. Whilst all Middle East countries have legal requirements for drivers to...

A.M. Best Special Report: GCC Insurance Market Regulatory Developments Promise Greater Stability and Confidence LONDON -Friday, September 30th 2016 [ar]

(BUSINESS WIRE)-- Recent developments in the regulation of insurance companies in a number of markets in the Gulf Cooperation Council (GCC) have emphasised A.M. Best’s concerns surrounding the inherent weaknesses in these markets. As a result of new regulations enhancing minimum capital...

A.M. Best Special Report: Pressure on MENA Reinsurance Market Persists as Regional Players Produce Mixed Earnings LONDON -Monday, September 26th 2016 [ar]

(BUSINESS WIRE)-- Reinsurance markets in the Middle East and North Africa region (MENA) are generally perceived as a source of expansion, with continued market liberalisation and the gradual removal of sanctions from Iran expected to yield further opportunities for reinsurers. Furthermore, the...

A.M. Best’s 2016 Middle East and North Africa Insurance Market Briefing—to Take Place 5 October in Dubai Dubai, United Arab Emirates -Wednesday, July 27th 2016 [ar]

(BUSINESS WIRE)-- A.M. Best will host its Middle East and North Africa (MENA) regional Insurance Market Briefing on Wednesday, 5 October, from 1:30 p.m. to 6:00 p.m. (GST), at the Shangri La Hotel in Dubai. The event will feature senior executives discussing the impact of current market...

A.M. Best Special Report: The Dynamics of Takaful Markets Of the Middle East and Malaysia: Similar Models, Different... LONDON -Tuesday, April 12th 2016 [ar]

(BUSINESS WIRE)-- A perception persists in the takaful market that Malaysia has been relatively successful in forming a vibrant takaful industry, while despite the Middle East having large Muslim populations, the takaful operators have struggled to establish a foothold in a market that has the...

A.M. Best Briefing: Flood Risk in the Gulf Cooperation Council – An Underestimated Catastrophe? LONDON -Wednesday, April 6th 2016 [ar]

(BUSINESS WIRE)-- Recent flooding in the United Arab Emirates (UAE), particularly in Abu Dhabi, has highlighted the need for regional insurers to assess and manage their exposure to this category of catastrophe event. In a new Best’s Briefing, “Flood Risk in the Gulf Cooperation Council...

A.M. Best to Participate in 11th Annual World Takaful Conference LONDON -Thursday, March 31st 2016 [ar]

(BUSINESS WIRE)-- A.M. Best will participate as ratings partner sponsor and exhibitor at the 11th Annual World Takaful Conference, to be held 11–12 April in Dubai, United Arab Emirates. Mahesh Mistry, director, analytics, will take part in a session titled, “Ratings Roundtable:...

A.M. Best to Host Best’s Credit Rating Methodology Update Briefing in Dubai Dubai, United Arab Emirates -Thursday, March 10th 2016

(BUSINESS WIRE)-- A.M. Best will host a Best’s Credit Rating Methodology Update Briefing on Thursday, 17 March, from 10:00 a.m. to 12:00 p.m., at the DIFC Conference Center, in Dubai, United Arab Emirates. A.M. Best is currently undertaking a significant restructuring and revised...

A.M. Best to Sponsor Multaqa Qatar 2016 DUBAI, United Arab Emirates -Thursday, February 25th 2016 [ar]

(BUSINESS WIRE)-- A.M. Best is an associate sponsor of Multaqa Qatar 2016, to be held 13–15 March in Doha, Qatar. A.M. Best will host a briefing on forthcoming revisions to the structure of Best’s Credit Rating Methodology at 15:00 on Monday 14 March at the conference venue, The St. Regis...

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