Egyptian Life Takaful seeks S&P, A. M. Best credit ratings for 2017

The Egyptian Life Takaful Company – GIG says it is seeking a new credit rating from the global credit rating agencies, Standard & Poor’s and A.M. Best.

GIG plans to start talks with A.M. Best to have a new credit rating and outlook soon.

In 2015, Egyptian Life Takaful Company has received its first credit rating from the Standard & Poor’s at ‘B+’ for its long-term counterparty credit and financial strength ratings, with a stable outlook.

Rimah Asaad, GIG managing director, further said on Thursday that his company expects to receive the same ‘B+’ for Standard & Poor’s 2017 long-term counterparty credit and financial strength ratings.

Egyptian Life Takaful Company – GIG, is 60.62 percent owned by Kuwait’s Gulf Insurance Group.