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Bahrain National Insurance Co. BSC Apr 11
Standard & Poors, April 2011
Abstract
Strong operating performance. Strong capitalization. Strong Liquidity. Restricted competitive position. Equity bias in investment portfolio. Business exposure to current political unrest. The ratings on Bahrain-based insurer Bahrain National Insurance Co. BSC (BNI) reflect the company's strong operating performance, strong capitalization, and strong liquidity. These positive factors are partially offset, however, by the company's operational and asset exposure to Bahrain. In addition, its competitive position is restricted to the small and increasingly competitive Bahraini market. Operating performance is a key strength for the ratings, based on a strong underwriting and investment performance. BNI recorded another strong combined ratio of 81% in 2010. Although this marked a rise of six percentage points over the previous year, it remains in line with performance...
Companies mentioned in this report are: Bahrain National Insurance Co. BSC,Bahrain (Kingdom of)
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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