A.M. Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Trust International Insurance & Reinsurance Company B.S.C. (c) Trust Re (Trust Re) (Bahrain).
The Credit Rating (rating) actions follow the delay in Trust Re releasing its audited financial statements for the year ended 31 December 2017, due to additional regulatory requirements.
The under review with negative implications status reflects A.M. Best’s uncertainty regarding the financial position of Trust Re in light of the delayed publication of the company’s financial statements.
The ratings will remain under review pending publication of Trust Re’s audited financial statements for year-end 2017 and A.M. Best’s subsequent assessment of the rating fundamentals of Trust Re.