MARC ‎has withdrawn its A+ insurer financial strength (IFS) rating on BEST RE Family (L) Limited (BEST RE Family) at the family retakaful operator's request. MARC has not been able to update the rating prior to withdrawing it as the rating agency is unable to reassess the two notch ultimate parent support uplift currently embedded in BEST RE Family's IFS rating.‎ This is because MARC has n...

MARC has withdrawn its A+ insurer financial strength (IFS) rating on Best Re (L) Limited (BEST RE) at the general reinsurer's request. The outlook was negative at the time of withdrawal. MARC has not been able to update the rating prior to withdrawing it due to insufficient available information. The negative outlook attached to BEST RE’s rating in January 2013 had reflected the potential fo...

MARC has downgraded its insurer financial strength (IFS) rating on BEST RE (L) Limited (BEST RE) to A+ from AA and revised the outlook to negative from stable. The rating action reflects recent underwriting losses due in part to higher catastrophe losses arising from Thai floods in 2011 and the weakening of its capital adequacy metrics. The current rating incorporates risk-mitigating initiatives u...

MARC has issued this update as part of its ongoing review of its AA/Stable financial strength ratings on BEST RE (L) Limited (BEST RE) and BEST RE Family (L) Limited (BEST RE Family). The rating agency intends to reassess the business and financial risk profiles and ratings of both entities following the adoption of their respective strategic plans which are expected to be unveiled at the end of M...

MARC has assigned an insurer financial strength rating of AA to BEST RE (L) Limited and BEST RE Family (L) Limited (collectively referred to as the BEST RE Group) on Malaysia’s national rating scale. The companies were set up when the original Tunisia-based entity BEST RE transferred its business to Labuan in October 2010 following a group restructuring exercise. The assigned ratings are und...