Mubasher: Gulf Insurance Group announced that A.M. Best for rating services has affirmed the company’s financial strength rating (FSR) at “A” (Excellent), with a “Stable” Outlook.

The “A” (Excellent) rating by A.M. Best is granted to companies with ability to fulfill their current liabilities of insurance operations, according to a bourse statement on Monday.

Gulf Insurance clarified that the “Stable” Outlook reflects the possible direction in the medium run which ranges from 12 to 36 months.

A.M. Best noted that Gulf Insurance maintained its capital adequacy ratio (CAR), the company added.