Salama/Islamic Arab Insurance Co. (P.S.C.) - S&P Global Ratings’ Credit Research

Salama/Islamic Arab Insurance Co. (P.S.C.)

Salama/Islamic Arab Insurance Co. (P.S.C.) - S&P Global Ratings’ Credit Research
Salama/Islamic Arab Insurance Co. (P.S.C.)
Published Dec 06, 2018
10 pages (3558 words) — Published Dec 06, 2018
Price US$ 500.00  |  Buy this Report Now

About This Report

  
Abstract:

Largest Takaful player in the United Arab Emirates (UAE). Largest portfolio of life products among local peers. Extremely strong risk-based capital adequacy. Volatile operating performance with major losses from 2014-2015 UAE motor portfolio and Best Re, with signs of recovery since 2017. Investment in high-risk assets not only elevates risk profile but also weighs on average asset credit quality. Forex exposure to weaker currencies brings earnings volatility. S&P Global Ratings' 'BBB-' issuer credit rating on Islamic Arab Insurance Co. (P.S.C.) (Salama) reflects its position as the largest sharia-compliant insurer in the UAE, with extremely strong capital adequacy, but constrained by historically volatile operating performance and a relatively high-risk investment portfolio. After two years of significant net losses in 2015 and

  
Brief Excerpt:

...Strengths Weaknesses + Largest Takaful player in the United Arab Emirates (UAE). + Largest portfolio of life products among local peers. + Extremely strong risk-based capital adequacy. + Volatile operating performance with major losses from 2014-2015 UAE motor portfolio and Best Re, with signs of recovery since 2017. + Investment in high-risk assets not only elevates risk profile but also weighs on average asset credit quality. + Forex exposure to weaker currencies brings earnings volatility....

  
Report Type:

Full Report

Issuer
Salama/Islamic Arab Insurance Co. (P.S.C.)
GICS
Property & Casualty Insurance (40301040)
Sector
Global Issuers
Country
United Arab Emirates
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Salama/Islamic Arab Insurance Co. (P.S.C.)" Dec 06, 2018. Alacra Store. Apr 28, 2024. <http://www.alacrastore.com/s-and-p-credit-research/Salama-Islamic-Arab-Insurance-Co-P-S-C-2140438>
  
APA:
S&P Global Ratings’ Credit Research. (). Salama/Islamic Arab Insurance Co. (P.S.C.) Dec 06, 2018. New York, NY: Alacra Store. Retrieved Apr 28, 2024 from <http://www.alacrastore.com/s-and-p-credit-research/Salama-Islamic-Arab-Insurance-Co-P-S-C-2140438>
  
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