premargin

Gulf Union Al Ahlia Cooperative Insurance Company announces that it has obtained affirmation on its Insurer Financial Strength (IFS) Rating of (BBB+) and a National IFS Rating of (AA-(sau)) with a change of the Outlook from Stable to Negative from Fitch Ratings. | premargin

Element List	Explanation
Announcement Detail	Gulf Union Al Ahlia Cooperative Insurance Company announces that it has obtained reaffirmation on its Insurer Financial Strength (IFS) Rating of (BBB+) and a National IFS Rating of (AA-(sau)), from Fitch Ratings. In its report, Fitch said that Gulf Union Al Ahlia's ratings reflect the insurer's strong capitalization, prudent reserving practices, and a conservative investment mix. However, Fitch Ratings has revised Gulf Union Al Ahlia's Outlook to “Negative” from “Stable”, for both ratings, due to underwriting losses in the motor third-party liability (TPL) and medical lines.

Element List

Explanation

Announcement Detail

Gulf Union Al Ahlia Cooperative Insurance Company announces that it has obtained reaffirmation on its Insurer Financial Strength (IFS) Rating of (BBB+) and a National IFS Rating of (AA-(sau)), from Fitch Ratings.

In its report, Fitch said that Gulf Union Al Ahlia's ratings reflect the insurer's strong capitalization, prudent reserving practices, and a conservative investment mix.

However, Fitch Ratings has revised Gulf Union Al Ahlia's Outlook to “Negative” from “Stable”, for both ratings, due to underwriting losses in the motor third-party liability (TPL) and medical lines.