Kuwait-Mubasher: A.M. Best has upgraded Gulf Insurance Group’s financial strength rating to ‘A’ from ‘A-‘.

A.M. Best has also upgraded the issuer credit ratings to “a” from “a-” and its subsidiary, Gulf Insurance and Reinsurance Company, according to a statement.
The outlook for each rating has been revised to ‘stable’ from ‘positive’.

The new ratings “Reflects strengthened risk-adjusted capitalisation, excellent regional business profile, track record of robust underwriting profitability and improved risk management.”