Arabia insurance AM Best

What People Say

You truly know an insurer mostly when there's a claim. And the people at Arabia have wowed my friends and I with their extensive support that is very rare in our region. That's beside the level of poised openness to cater and innovate and reinvent themselves since I've started dealing with them, both as partner and client. Hats off Arabia. Proud to have a Lebanese company with such high standards.

- Charbel Khoury

What People Say

Excellent customer service. Efficient job. It's worth dealing with such company!

- Mayssam Assaad

What People Say

Good Service and very friendly staff!

- Wafaa Kawkabani

What People Say

Good company, good people and great service.

- Fadi Khoury

What People Say

I tried many insurances but honestly, you are the best and the most important thing is that we can take the same conditions whether from the bank or directly from Arabia; which is not the case for other insurance companies.

- Magalie Sleiman

A.M. Best Affirms Credit Ratings of ARABIA Insurance Company s.a.l. 
 

AM Best has commented that the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating (Long-Term ICR) of "bbb" of ARABIA Insurance Company s.a.l. (AIC) (Lebanon), both with a negative outlook, remain unchanged despite the increased social, political and economic uncertainty in Lebanon.

 

In October 2019, demonstrations spread across Lebanon, rapidly leading to the resignation of the government. Since then, political and economic uncertainty has increased significantly, with a slowdown in capital inflows causing, in some instances, cash flow constraints to the economy.

 

Although AIC is domiciled in Lebanon, it is somewhat insulated from the heightened political and economic risk in the country. It operates through a network of branches and subsidiaries across nine countries in the Middle East, providing the group with good diversification. In 2018, approximately 14% of AIC’s gross written premium were generated in Lebanon, whilst the proportion of the group’s cash and deposits held domestically amounted to only 16% as at year-end. Furthermore, in the first nine months of 2019, in response to increasing political and economic uncertainty in Lebanon, AIC implemented several risk management measures. As a result, AM Best considers AIC to have a limited exposure to Lebanon.

 

AM Best will continue to monitor how events unfold in Lebanon and any impact the heightened social, political and economic risks have on AIC.


https://finance.yahoo.com/news/am-best-comments-credit-ratings-201100463.html