Magazine date:
May 2015 AM Best confirms ratings of Gulf Re. The financial strength rating of the reinsurer is maintained at A- (Excellent) while the credit one is of a-.
The rating agency withdrew the comment "negative watch" it imposed on the UAE reinsurer in the past.
This improvement follows the acquisition of 50% of Gulf Re by the Bermudian reinsurer Arch. The latter commits to taking over Gulf Re's operations and lending it any technical assistance.