S&P, BBB- for Middle East Insurance

The rating agency S&P has confirmed the credit and financial strength rating of BBB- with stable outlook of Middle East Insurance (MEICO). S&P appraisal confirmed the appropriate commercial and financial profile of the company. Its operating performances, its capitalization and liquidity assets are considered to be good. However, S&P notes that the Jordanian macroeconomic environment is not favourable, straining the sector. The investments, partly focused on local and regional financial centers or on real estate property, deemed volatile, are penalizing the company.