Tagged: A.M. Best

A.M. Best Withdraws Ratings of Islamic Arab Insurance Co. (Salama)

A.M. Best Withdraws Ratings of Islamic Arab Insurance Co. (Salama)

A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating of Islamic Arab Insurance Co. (Salama). This is due to the uncertainty regarding Salama’s main subsidiary, BEST RE Limited (Malaysia), and the potential implications for Salama’s capitalisation, operating performance and profile. Concurrently, A.M. Best has withdrawn the ratings as Salama has requested to no longer participate in their rating process.

ReTakaful firms struggling to meet original plans

ReTakaful firms struggling to meet original plans

Ratings agency A.M. Best stated that reTakaful companies are having problems keeping to their original business plans. It seems taht the Takaful market has not grown as quickly as expected and Takaful operators have found themselves having to battle wi…