Mubasher: Standard & Poor's (S&P) has affirmed Al Ahleia Insurance’s financial strength rating (SFR) at “A-” and downgraded the outlook to “Negative” from “Stable”.
Affirming Al Ahleia Insurance’s rating reflects the solid financial activity of the company and its compliance to meet its current financial liabilities, S&P said, according to a bourse statement on Wednesday.
S&P added that the “Negative” outlook reflects a risk that would be noticed if Al Ahleia’s capital adequacy ratio (CAR) remained below the current rating in the coming two years.
In 2017, the company’s premiums from reinsurance business increased by 19%, S&P said.
