Trust Re goes back over the downgrading of its rating
Following the delayed publication of its financial balance sheet for the year ended December 31st, 2017, Trust Re’s rating assigned by AM Best has been revised downward. From «A-», the financial strength rating has been downgraded to "B++". The long-term issuer credit rating has also been revised from "a-" to "bbb+". These two ratings remain under review pending publication of the audited financial statements.
For its part, Trust Re confirmed that its technical commitments have been strictly respected and that the company has no difficulty in dealing with the payment of its claims regardless of their amounts.
In addition, the Bahraini reinsurer announced that its operating performance for the first half of 2018 is sound. During this last period, the turnover increased by 13% compared to the one recorded during the same period of 2017.
The combined ratio for the first six months of the current year amounted to 96.5%, an improvement of 2.4 points compared to the first half of 2017. The average combined ratio for the last five years is 95.7%.
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