Watania gets rating with negative implications
A.M. Best has placed under review with negative implications the financial strength rating (FSR) of B+ and the issuer credit rating of bbb- of National Takaful Company (Watania) PJSC. The rating action reflects Watania’s weak underwriting performance since incorporation. During 2015, operating losses have resulted in weakened risk-adjusted capitalisation and reduced liquidity. Watania has experienced […]
