LONDON--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating (FSR) of B- (Fair) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “bb-” (Fair) of Egyptian Takaful Property & Liability Insurance Company (Egyptian Joint Stock Company) (EGTAK) (Egypt). The outlook of these Credit Ratings (ratings) is stable. Additionally, AM Best has assigned the Egypt National Scale Rating (NSR) of aa+.EG (Superior) to EGTAK with a stable outlook.
The ratings reflect EGTAK’s balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management. The company’s FSR and Long-Term ICR were assigned on 29 July 2024 (see related press release).
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