16 May 2014Insurance

AM Best downgrades Saudi’s Medgulf

Rating agency AM Best has downgraded the financial strength and issuer credit rating of The Mediterranean & Gulf Insurance & Reinsurance Company (Medgulf Bahrain) and The Mediterranean and Gulf Cooperative Insurance and Reinsurance Company, a Saudi joint stock company, (Medgulf KSA), as a result of material underwriting losses at the Saudi subsidiary.

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