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Home Business News AM Best Affirms Credit Ratings of SNIC Insurance B.S.C. (c)

AM Best Affirms Credit Ratings of SNIC Insurance B.S.C. (c)


LONDON–()–AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of SNIC Insurance B.S.C. (c) (SNIC) (Bahrain). The outlook of these Credit Ratings (ratings) is negative.

The ratings reflect SNIC’s balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.

The negative outlooks reflect pressures on the company’s risk-adjusted capitalisation in recent years, as well as technical losses over this period. AM Best notes that SNIC has undertaken initiatives to improve its capital position and technical performance,…



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