A.M. Best Affirms Credit Ratings of Misr Insurance Company
The ratings reflect MIC’s balance sheet strength, which
The company’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), is assessed as strongest. Capital requirements are primarily driven by investment risk, with most assets held in
The company’s technical and operating profitability has improved considerably in recent years. Underwriting returns in the past have been burdened by historical Motor Act policies; however, for the past four years (2014-2017), MIC has reported stronger combined ratios. For the financial year ending
MIC has an excellent business profile in its domestic market. The company’s gross written premium increased by 37% to
The company’s ERM capability has improved notably in recent years; there is a defined risk framework with clear risk appetite and tolerances in place. Political and financial instability, as well as social unrest, have the potential to disrupt economic conditions in
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
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A.M. Best Affirms Credit Ratings of Misr Life Insurance Company
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