Standard & Poor’s Ratings Services announced that it has assigned its “BBB+” long-term counterparty credit and insurer financial strength ratings to Bahrain-based insurer Bahrain National Insurance Co. BSC (BNI) with a stable outlook.
“The ratings reflect BNI’s strong capitalization and strong operating performance, supported by a well-diversified investment portfolio,” stated S&P credit analyst Jelena Bjelanovic. “These factors are partially offset by the company’s competitive position, which is concentrated on the small Bahraini market.”
S&P said: “The stable outlook reflects Standard & Poor’s expectation that BNI will maintain its capitalization at a strong level. BNI is also expected to maintain strong operating performance, albeit not at the current level. Standard & Poor’s expects BNI to maintain its market position without materially compromising on profitability, and undertaking new initiatives without significantly increasing the risk profile of the company.”
Was this article valuable?
Here are more articles you may enjoy.
Storage Shed Caused Nashville Parking Garage Fire, Travelers Says in $10M Subro Suit 
Hedge Funds Are Expanding Desks Designed to Profit From Natural-Catastrophe Risk 
Karen Read Sues Police Agencies That Investigated Her Boyfriend’s Death 
AI Savings Misses ‘Should Be Making Executives Uncomfortable,’ Bain Says 
