A.M. Best Affirms Credit Ratings of Gulf Insurance Group K.S.C.P. and Gulf Insurance and Reinsurance Company K.S.C. (Closed)
The ratings reflect GIG’s balance sheet strength, which
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GIG’s balance sheet strength is underpinned by its risk-adjusted capitalisation being at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Whilst GIG has historically maintained sufficient capital buffers to accommodate higher levels of growth, the group’s risk-adjusted capitalisation in 2017 was impacted negatively by increased capital requirements stemming from newly acquired subsidiaries and higher underwriting risk from sizable new contracts in
GIG’s balance sheet continues to benefit from a comprehensive reinsurance program supported by well-rated counterparties and strong liquidity. However,
GIG is amongst the largest and most diversified insurance groups in the
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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