AM Best affirms rating of Orient Insurance and its main subsidiaries

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Orient insuranceAM Best has confirmed the "A" financial strength and "a+" long-term credit ratings of Orient Insurance and its subsidiaries Orient Takaful Insurance Company (Egypt) and Orient Takaful (United Arab Emirates). The outlook remains stable.

The rating reflects the Emirati group's strong balance sheet, good operating performance, neutral business profile and appropriate business risk management.

Under the new IFRS 17 standards, the company's combined non-life ratio and return on equity (ROE) for the year 2023 stood at 85.8% and 15.5% respectively.

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Tue, 18/06/2024 - 15:04
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