Saudi Arabia’s largest insurance company, the government controlled National Company for Co-operative Insurance (NCCI), has launched an initial public offering with the sale of seven million shares valued at $383 million. The IPO put 70 percent of the company’s shares …
A.M. Best Co. has affirmed the financial strength rating of B+ (Very Good) of Trust International Insurance Company E.C. (TIIC) (Bahrain). The outlook has been revised to positive from stable. At the same time, A.M. Best has assigned an issuer …
Standard & Poor’s Ratings Services announced that it has assigned its “BBB” long-term counterparty credit and insurer financial strength ratings to Bahrain-based reinsurer Arab Insurance Group (B.S.C.) (ARIG), with a stable outlook. “The ratings are based on the group’s good …
The American Insurance Association has issued a bulletin calling the recently concluded free trade agreement with Bahrain “an important step forward in free market interaction” between the U.S. and the Gulf State. The AIA praised the United States Trade Representative …
A.M. Best Co. has assigned an initial financial strength rating of B+ (Very Good) to Bahrain-based Trust International Insurance Company E.C. (TIIC), a medium sized reinsurer. The rating reflects the company’s excellent risk-based capital and good business position. Offsetting factors …
A formal declaration notwithstanding, the United States must prepare to stamp out organized terrorism. This will have a profound impact on the global insurance industry well beyond the estimated billions in losses from the attacks in New York City and …
The Alea Group recently received approval from the State of New York Insurance Department to acquire Seven Hills Insurance Company. Upon the approval, Alea completed the transaction with Great American Insurance Company on July 2,2001. Formal approval of a name …
All 135 passengers and 8 crew members perished Wednesday night when an Airbus 320 operated by Gulf Air crashed into the shallow waters of the Persian Gulf three miles from its destination, the Bahrain airport. The airliner had taken off …
Rhine Re, a Swiss-based global reinsurer, which is a subsidiary of U.S. buyout firm Kohlberg Kravis Roberts & Co. (KKR), announced that it has agreed to acquire London-based Imperial Fire & Marine Re-Insurance Company. The announcement of the purchase didn’t …
