MANAMA: The ratings of Solidarity General Takaful, a subsidiary of the largest Takaful group in the world, Solidarity Group Holding, were reaffirmed for the third consecutive year by A.M. Best Europe, with the company maintaining a financial strength rating of B++ (Good) and insurer credit rating of “bbb”, both with a stable outlook.
According to A.M. Best’s official, the ratings of Solidarity General Takaful reflect its sound level of risk-adjusted capitalization, niche market positioning and good level of risk profile, being the second largest takaful operator in Bahrain.
“We are delighted to announce that Solidarity has had its ratings reaffirmed by a reputed and leading international rating agency, A.M. Best,” Mr. Jawad Mohamed, Solidarity General Takaful General Manager said.
“We are justifiably proud that Solidarity received an investment grade rating with a stable outlook for the third year consecutively despite a highly challenging market conditions and operating environment”, said Mr. Mohamed. “Established in 2003, Solidarity has positioned itself among a select few rated insurance companies operating within the Bahraini market”.
“With the continued international recognition and accreditation of our major operating platforms, the Group has managed to establish its position as one of the leading industry players in the region, setting it apart from all but a handful of regional market players,” Mr. Ashraf Bseisu, Solidarity group chief executive, said.
Mr. Bseisu has attributed this milestone achievement to the solid vision and clear strategies of the Group, and the devotion and dedication of Solidarity’s management team and staff.
