Middle Eastern carriers' ratings weaken in 2016: AM Best

Ratings downgrades exceeded upgrades for Middle Eastern
(re)insurers in 2016, according to AM Best.
About 11.3 percent of ratings actions were downgrades, as
pressures from weakening capital positions and worsening technical
performance afflicted certain companies. Just 7.5 percent of
ratings actions were upgrades.
The agency also noted that as of 31 December, 12 percent of
insurers and reinsurers had an issuer credit rating of
"a", compared with 8 percent a year earlier. However, AM
Best said t