A.M. Best Europe - Rating Services Limited has assigned a financial strength rating of B+ (Good) and an issuer credit rating of ‘bbb-’ to National Takaful Company (Watania) PJSC (Watania) (United Arab Emirates). The outlook assigned to both ratings is stable.
The ratings for Watania reflect its strong prospective risk-adjusted capitalisation, supported by strong reinsurance protection, a conservative investment strategy and its sound business plan. Offsetting rating factors are below target results in 2012 and the execution risk Watania faces in the competitive UAE insurance market………………………………………..Full Article: Source