A.M. Best Withdraws Credit Ratings of Muscat Insurance Company SAOC and Muscat Life Assurance Company SAOC
The rating affirmations reflect MIC’s and MLAC’s strong risk-adjusted capitalisation and track record of good operating performance. Offsetting rating factors are the limited business profiles held by MIC and MLAC within the Omani insurance market. The ratings of MLAC continue to receive rating enhancement as a result of its continued strategic importance in MNHC.
MIC’s strong risk-adjusted capitalisation is sustained by the company’s low underwriting leverage and conservative investment portfolio. MIC has continued to build on its track record of good operating performance, reporting pre-tax operating profits of
MLAC’s risk-adjusted capitalisation further strengthened during 2016 as a result of a reduction in real estate holdings. MLAC has continued to demonstrate good operating performance, with pre-tax profits of
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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Amendment to Combined Synopsis/Solicitation – Beahioral Health Specialist
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