Bahrain National Insurance gets stable outlook
Manama, December 24, 2012
AM Best Europe - Rating Services Limited has assigned a financial strength rating of B++ and issuer credit rating of bbb+ to the Bahrain National Insurance company with a stable outlook, said a report.
BNI is the second-largest insurer in the Bahraini market with a 11 per cent share and writes 17 per cent of all motor business.
The ratings for BNI reflect its excellent prospective risk-adjusted capitalisation, robust underwriting performance and good enterprise risk management relative to regional peers, reported the Gulf Daily News, our sister publication.
Offsetting rating factors are BNI's declining profile concentrated in the Bahraini market and equity concentration in its investment portfolio.-TradeArabia News Service