A.M. Best Europe – Rating Services Limited has withdrawn the financial strength rating of ‘B’ (Fair) and the issuer credit rating of “bb” of Arab Union Reinsurance Company (AURe), which is based in Syria.
Best explained that the “withdrawal is a result of international countries placing targeted financial sanctions on the Libyan government, which is a 50 percent owner of the company.”
Source: A.M. Best
Was this article valuable?
Here are more articles you may enjoy.
Chubb CEO Greenberg: Industry Has to ‘Put Arms Around’ AI Liability 
Alabama Pharmacy, Not Agent, at Fault for Not Reading Policy Before $5M Judgment 
World’s Largest Retirement Community Set to Borrow $180 Million for More Homes 
How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage 
