A.M. Best Europe – Rating Services Limited has withdrawn the financial strength rating of ‘B’ (Fair) and the issuer credit rating of “bb” of Arab Union Reinsurance Company (AURe), which is based in Syria.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.
Nationwide: Consumers Say Insurance Should Evolve for Micromobility Vehicles 
State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims 
AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You 
Business Interruption Claims Arising From the Middle East Conflict 
