AM Best downgrades ACR ReTakaful operations

AM Best has downgraded the financial strength rating of ACR
ReTakaful MEA and ACR ReTakaful Berhad from A- to B++.
The rating agency also downgraded the issuer credit ratings of
the two units from a- to bbb+, while ACR ReTakaful Holdings
Limited's issuer credit rating was downgraded from bbb- to
bb+.
The ratings have a stable outlook, the rating agency said in a
statement on Friday (18 December).
ACR ReTakaful Holdings was established in 2008 as a joint
venture between...