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Al Buhaira National Insurance Co. (PSC) Aug 11
Standard & Poors, Aug 2011
Abstract
Marginal liquidity and marginal investment profile Marginal financial flexibility and weakened capitalization A lack of clear risk tolerances, particularly in its investment risk management Strong operating performance Good competitive position The ratings on United Arab Emirates (UAE)-based composite insurer Al Buhaira National Insurance Co. (PSC) (ABNIC or the company) reflect the company's marginal investment profile and marginal liquidity; marginal financial flexibility and weakened, though adequate, capitalization; and a lack of clear risk tolerances, particularly in its investment risk management. These negatives are partially offset by strong operating performance and a good competitive position. ABNIC's liquidity has weakened, but remains marginal. Cash and bank deposits, less the bank overdraft, to net technical reserves was minus 38% on June 30, 2011 (minus...
Companies mentioned in this report are: Al Buhaira National Insurance Co. (PSC)
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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