AM Best affirms rating of Arab War Risks Insurance Syndicate

AM Best has confirmed the "B++" (good) financial strength and "bbb+" (good) long-term credit ratings of Arab War Risks Insurance Syndicate (AWRIS). The outlook remains stable.

This decision was motivated by several factors, including:

• a strong balance sheet, underpinned by a high level of risk-adjusted capitalization
• excellent operating performance, reflected in a five-year (2018-2022) combined ratio of 64.6%, and an average return on equity of 6.7% for the same period
• appropriate business risk management
• AWRIS's strong position as an underwriter of marine war risks in the MENA region