A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of C++ (Marginal) and an issuer credit rating of “b” to Boubyan Takaful Insurance Company K.S.C. (Closed) (BTIC) (Kuwait). The outlook assigned to both ratings is positive.
The ratings of BTIC reflect its strong risk-adjusted capitalisation on a consolidated basis (shareholders’ and policyholders’ funds), sound, yet somewhat untested, distribution lines through its shareholders and the efforts currently being made by management to introduce best practices throughout the firm. (Press Release)