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Ratings On Salama/Islamic Arab Insurance Co. And BEST RE Companies Affirmed After Review Of Exposure To Thai Floods Dec 11 Product Image

Ratings On Salama/Islamic Arab Insurance Co. And BEST RE Companies Affirmed After Review Of Exposure To Thai Floods Dec 11

  • ID: 2029307
  • December 2011
  • Region: Thailand
  • Standard & Poors

Abstract
Dubai-based insurer Salama/IAIC and its BEST RE reinsurance subgroup have supplied us with data on their exposure to Thai flood-related losses In light of this information, we are affirming the ratings on Salama/IAIC and BEST RE as we consider that the group's estimated net losses of up to $20 million are unlikely to deplete capital adequacy to such an extent that it threatens the current ratings. We would review the ratings and outlook again if we come to believe that the group's ultimate Thai flood-related net losses may materially exceed $20 million. The stable outlook reflects our view that the BEST RE subgroup's net losses in respect of the Thai floods are unlikely to be significantly higher than expected. LONDON...

Companies mentioned in this report are: Salama/Islamic Arab Insurance Co. (P.S.C.),BEST RE (L) Ltd.,BEST RE Family (L) Ltd.
Action: Affirmed
Action: Outlook: Stable

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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Salama/Islamic Arab Insurance Co. (P.S.C.),BEST RE (L) Ltd.,BEST RE Family (L) Ltd.

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