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Islamic Finance Briefing - Categorized | Finance, Market Moves more

Arab Insurance Group ‘BBB’ ratings affirmed; Withdrawn at company’s request

Posted on 12 March 2009

From Menareport.com: Standard & Poor’s Ratings Services said today it affirmed its ‘BBB’ long-term counterparty credit and insurer financial strength ratings on Bahrain-based non-life and life reinsurer Arab Insurance Group (B.S.C.) (ARIG), then withdrew the ratings at the company’s request.

As a result of the withdrawal, ARIG is no longer subject to ongoing surveillance by Standard & Poor’s. At the time of withdrawal, the rating reflected the company’s very strong capitalization despite the 19% reduction in shareholders’ equity in 2008, and the company’s good competitive position….. Full Article: Source

 
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