S & P ended its surveillance over three insurers’ ratings

The rating agency S&P announced that it has suspended the surveillance of ratings of Bahrain National Insurance (BNI), Bahrain Kuwait Insurance Co. (BKIC) and Takaful International.

The ratings of these companies were put under review with negative implications on February. 24, 2011. S&P has confirmed BBB rating for all of these insurers, with negative outlooks. S & P believes that the activities of BNI, BKIC and Takaful Int. have been affected by Bahrain’s sovereign rating as their activities and investments are primarily conducted in the kingdom.