A.M. Best Europe – Rating Services Limited has withdrawn the financial strength rating of ‘B’ (Fair) and the issuer credit rating of “bb” of Arab Union Reinsurance Company (AURe), which is based in Syria.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.
‘Dream Is in Sight:’ Chamber, Reinsurers, Insurers Urge Florida to Stay the Course 
Dozens of State Attorneys General Urge Congress Not to Block AI Laws 
Acrisure CEO Greg Williams Makes $400M Commitment to Michigan State University 
In Alabama, Shot Employee Gets No Workers’ Comp and No Employer’s Liability 
