KUALA LUMPUR, Dec 22 (Bernama)-- A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" of ACR ReTakaful Berhad (ACR ReTakaful) (Malaysia) and ACR ReTakaful MEA B.S.C. (c) (ACR ReTakaful MEA) (Bahrain). A.M. Best has also affirmed the ICR ratings of "bbb-" of ACR ReTakaful Holdings Limited (United Arab Emirates). The outlook for all ratings is stable.
The affirmations for both ACR ReTakaful and ACR ReTakaful MEA consider the de-risking exercise on their underwriting portfolios and their plans to rebuild those with profitable, less volatile business. Stable investment results from the relatively large and prudently managed investment portfolios are expected to help offset both companies' high expense ratios during this period.
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