DAIR 2007 6th Edition Volume II

i.e. Muhanna & co. has the pleasure to announce the publishing of the 2nd volume of the 6th edition of the Digest Arab Insurance Rating (DAIR) 2007. DAIR is the annual publication of i.e. Muhanna & co that provides opinions on the financial strength of insurance companies in the Arab World.

DAIR 2007 covers the ratings of more than 110 insurance and reinsurance companies and is issued in 2 volumes:

Volume (1) includes the full Muhanna rating methodology along with the ratings of the first 55 insurance companies that provided their annual reports.
Volume (2) comprises a detailed market study on the Takaful insurance industry along with the 55 remaining ratings.


The second volume of DAIR 2007 covers the ratings of 55 insurance companies. The total 110 companies rated in this edition constitute 58% of the Arab market gross premium. Among the 110 insurance companies rated, 76 companies are general insurance companies, 24 are life or composite insurance companies and 10 are reinsurance companies. 8 new companies were rated. DAIR 2007 rated insurance & reinsurance companies from: Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Sudan, Tunisia and the UAE.

As for the results, 8 companies out of the 110 rated fell in the 'uncertain' range, 22 companies were upgraded whereas 26 companies were downgraded.


Rating Range
AA
A
BBB
BB
B
Publicly Listed Cos.
4
49
24
4
1
Non-Public Cos.
1
13
11
3
0
Total
5
62
35
7
1
Percentage of total companies rated
5 %
56 %
32 %
6 %
1 %