AP NEWS

AM Best Withdraws Credit Ratings of Oman Reinsurance Company SAOC

December 5, 2018

LONDON--(BUSINESS WIRE)--Dec 5, 2018--AM Best has withdrawn the Financial Strength Rating (FSR) of B+ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bbb-” of Oman Reinsurance Company SAOC (Oman Re) (Oman). At the time of the withdrawal, these Credit Ratings (ratings) were under review with negative implications.

The ratings of Oman Re have been withdrawn following the withdrawal of the ratings of its major shareholder, Trust International Insurance & Reinsurance Company B.S.C. (c) Trust Re (Trust Re). Oman Re’s ratings have historically considered the financial strength of Trust Re.

Trust Re’s ratings were withdrawn as it had not provided the necessary financial information required by AM Best to support an ongoing credit opinion of the company, consistent with AM Best’s rating criteria.

AM Best’s procedure is for a final rating opinion to be produced in conjunction with a rating withdrawal. However, a final rating opinion could not be produced for Oman Re due to the absence of sufficient and reliable financial information on Trust Re.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s web page. For additional information regarding the use and limitations of Credit Rating opinions, please view . For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view .

AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit for more information.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181205005720/en/

CONTACT: Aneela Mather-Khan, CA

Financial Analyst

+44 20 7397 0319

aneela.mather-khan@ambest.comGhislain Le Cam, CFA, FRM

Director, Analytics

+44 20 7397 0268

ghislain.lecam@ambest.comChristopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.comJim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

KEYWORD: UNITED KINGDOM EUROPE

INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE

SOURCE: AM Best

Copyright Business Wire 2018.

PUB: 12/05/2018 01:53 PM/DISC: 12/05/2018 01:52 PM

http://www.businesswire.com/news/home/20181205005720/en

AP RADIO
Update hourly