MANAMA: Solidarity Bahrain, one of the largest insurance companies in Bahrain and a subsidiary of Solidarity Group Holding, yesterday announced that AM Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating (FSR) of B++ (Good) with a stable outlook.
The Long-Term ICR upgrade reflects the improvement in the business profile, achieved through a stronger competitive position in Bahrain, following the integration of Al Ahlia Insurance Company, acquired in 2016 .