AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of 'bbb+' of
The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect Solidarity Bahrain's balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. The ratings also consider, in the form of lift, Solidarity Bahrain's strategic importance to its parent company, Solidarity Group Holding BSC , a leading provider of Islamic insurance solutions in
Solidarity
AM Best expects Solidarity Bahrain's operating performance to remain adequate over the medium term, supported by positive and improving technical profitability, as well as moderate investment income. In 2019, the company reported a return on equity of 11.7%. Similar profitability is expected for 2020, as a result of continued underwriting discipline and a reduction in claims levels expected to result from the restrictions imposed by the government in response to the COVID-19 pandemic.
Solidarity
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