AM Best has revised the rating of Arab Misr Insurance

AM Best has revised the outlook of Arab Misr Insurance Group (GIG-Egypt) from negative to stable. The rating agency has also affirmed the financial strength rating of B ++ (good) and the credit rating of bbb of the Egyptian non life insurer.

These ratings reflect GIG-Egypt's good capitalization and high level of profitability. The turnover achieved in 2014 is 369 million EGP (48.4 million USD) and the combined ratio is set at 76%.