Tuesday, June 06, 2006
S&P Assigns Arab Orient 'A-' Rating
Source: insurancejournal.com
Standard & Poor's Ratings Services has consigns its "A-" long-term counterparty credit and insurer financial strength ratings to Dubai-based Arab Orient Insurance Co. (PSC) (AOIC) with a stable outlook. "The ratings reflect AOIC's strong capitalization, very strong earnings, and strong liquidity stated S&P credit analyst Rowena Potter.” These positive factors are partly balanced by AOIC's high utilization of reinsurance and the concentration risk from banking counterparties."
S&P said as replicated by the stable outlook, it also reflects its "expectation that AOIC will uphold strong capitalization and very strong earnings. The investment profile will linger highly liquid and focused on bank deposits in securely rated banks. The competitive position will remain at least strong in Dubai, and the franchise will enlarge into neighboring regions in the medium term." Potter added, "But a weakening of the rating may occur if the company's capitalization deteriorates materially, either through its own actions, or through those of the parent Al Futtaim Group".
Source: insurancejournal.com
Standard & Poor's Ratings Services has consigns its "A-" long-term counterparty credit and insurer financial strength ratings to Dubai-based Arab Orient Insurance Co. (PSC) (AOIC) with a stable outlook. "The ratings reflect AOIC's strong capitalization, very strong earnings, and strong liquidity stated S&P credit analyst Rowena Potter.” These positive factors are partly balanced by AOIC's high utilization of reinsurance and the concentration risk from banking counterparties."
S&P said as replicated by the stable outlook, it also reflects its "expectation that AOIC will uphold strong capitalization and very strong earnings. The investment profile will linger highly liquid and focused on bank deposits in securely rated banks. The competitive position will remain at least strong in Dubai, and the franchise will enlarge into neighboring regions in the medium term." Potter added, "But a weakening of the rating may occur if the company's capitalization deteriorates materially, either through its own actions, or through those of the parent Al Futtaim Group".
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