AM Best affirms Egyptian Takaful’s ratings

AM Best has affirmed the “B-” (fair) Financial Strength Rating and “bb-” Long-Term Issuer Credit Rating of Egyptian Takaful Properties and Liabilities Insurance Company (Egyptian Takaful).

The agency has also affirmed the insurer’s “aa+.EG” national scale rating, with a stable outlook assigned to all ratings.

The ratings reflect Egyptian Takaful’s strong balance sheet, adequate operating performance, limited business profile, and marginal enterprise risk management.