Standard & Poor's Ratings Services said that it assigned its 'A' long-term insurer financial strength rating to Qatar Financial Center-based Qatar Insurance Co. International LLC (QIC International). The outlook is stable.
Standard & Poor's Ratings Services said that it assigned its 'A' long-term counterparty credit and insurer financial strength ratings to Bahrain-based reinsurer Hannover ReTakaful B.S.C. (Hannover ReTakaful). The outlook is stable.
Standard & Poor's Ratings Services said that it placed its 'B-' long-term counterparty credit ratings on three Lebanese banks--Blom Bank sal, Bank Audi Sal - Audi Saradar Group (Banque Audi), and Bankmed, s.a.l.--on CreditWatch with negative implications.
Standard & Poor's Ratings Services considers that the Saudi insurance market's inherent strengths will allow it to ride out the changes to come.
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