Today: December 18, 2018, 2:25 pm
  
Business

A.M. Best Places Credit Ratings of Oman Reinsurance Company SAOC Under Review With Negative Implications

PR-Inside.com: 2018-08-08 17:28:01

A.M. Best Places Credit Ratings of Oman Reinsurance Company SAOC Under Review With Negative Implications

A.M. Best
Aneela Mather-Khan, CA
+44 20 7397 0319
Financial Analyst
aneela.mather-khan@ambest.com
or
Mahesh Mistry, +44 20 7397 0325
Senior Director, Analytics
mahesh.mistry@ambest.com
or
Christopher Sharkey, +1 908 439 2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1 908 439 2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com

A.M. Best has placed under review with negative implications the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of “bbb-” of Oman Reinsurance Company SAOC (Oman Re) (Oman).

The Credit Rating (rating) actions follow the delay in Oman Re’s main shareholder, Trust International Insurance & Reinsurance Company B.S.C. (c) Trust Re (Trust Re), releasing its audited financial statements for the year ended 31 December 2017, due to additional regulatory requirements.

The under review with negative implications status reflects A.M. Best’s uncertainty regarding the financial position of Trust Re, in light of the delayed publication of its financial statements, and the impact this could have on Oman Re’s ratings, which benefit from rating enhancement from Trust Re.

The ratings will remain under review pending publication of Trust Re’s audited financial statements for year-end 2017 and A.M. Best’s subsequent assessment of the rating fundamentals of Oman Re.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper [..].

A.M. Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Press Information


Published by
Hossam Abdel-Kader
+43 1 9582319
e-mail
http://www.pr-inside.com/


# 600 Words
Related Articles
More From The Author
A.M. Best Places Credit Ratings of Trust [..]
A.M. Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer [..]
S&P Global Ratings raises its rating on [..]
London, August 8, 2018 CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces that on August 8, 2018 S&P Global [..]
Publicis Groupe Announces New Appointments in Israel
Publicis Groupe Announces New Appointments in Israel Yossi Lubatonappointed as Country CEO Publicis Groupe Israel & Chairman [..]
Banks net position in the Riksbank
AUG 8, 2018 SEK MILLION   LENDINGBORROWING191   
A.M. Best Affirms Credit Ratings of International [..]
A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) [..]
 
More From Business
Learn about Dishonest Companies and Specialist on [..]
12 December 2018 – Beware.org provides the most favorable conditions for average consumers to publish the alerts and warnings about [..]
Brands Reviews Offers the Best Quality Reviews
12 December 2018 – Brands Reviews is offering the largest collection of reliable and trusted qqtube review and subpals review [..]
509 Electric Is the Best Residential Electrical [..]
Yakima, USA – 12 December 2018 – 509 Electric is the best Yakima Electrical Contractor ready to offer top quality [..]
Cross Talks Awarded $5K Grant from the [..]
The Penn State Brandywine Boost, a program of the Invent Penn State initiative, has selected Delaware State Chamber Member, Soraya [..]
Huber Needles: Market is likely to register [..]
This Market Study provides key insights and forecast on the global Huber needles market for the forecast period 2017-2024. The [..]

Disclaimer: If you have any questions regarding information in this press release please contact the company added in the press release. Please do not contact pr-inside. We will not be able to assist you. PR-inside disclaims the content included in this release.