{"id":27026,"date":"2026-06-26T19:18:00","date_gmt":"2026-06-26T17:18:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=f6301533e9a4668a7f411ae016dabe03"},"modified":"2026-06-26T19:18:00","modified_gmt":"2026-06-26T17:18:00","slug":"am-best-affirms-credit-ratings-for-suez-canal-insurance","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=27026","title":{"rendered":"AM Best Affirms Credit Ratings for Suez Canal Insurance"},"content":{"rendered":"

LONDON--(BUSINESS WIRE)--AM Best<\/b> has affirmed the Financial Strength Rating of B- (Fair), the Long-Term Issuer Credit Rating of \u201cbb-\u201d (Fair) and the Egypt National Scale Rating (NSR) of aa+.EG (Superior) of Suez Canal Insurance (SCI) (Egypt). The outlook of these Credit Ratings (ratings) is stable.<\/p><\/a><\/a>

\nThe ratings reflect SCI\u2019s balance sheet strength which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management (ERM).<\/p>

\nSCI\u2019s balance sheet strength is underpinned by its risk-adjusted capitalisation at the very strong level, as measured by Best\u2019s Capital Adequacy Ratio (BCAR), for year-end 31 December 2025. The company\u2019s BCAR is expected to remain at least at the very strong level prospectively. Despite SCI\u2019s conservative investment allocation by asset class, AM Best considers the quality of its assets to be weak given the company's concentration in Egypt, which exposes SCI\u2019s balance sheet to potential volatility. The company has a relatively high reliance on reinsurance, evident by an insurance revenue retention ratio of 40.8% in 2025. However, the associated counterparty credit risk is mitigated partially by the use of a financially strong reinsurance panel.<\/p>

\nSCI has a track record of adequate operating performance, generating a solid return-on-equity (ROE) of 11.7% in 2025. When adjusted for movements through other comprehensive income, the ROE stood at 22.4%, which is above the prevailing Egypt 10-year government bond yields. SCI\u2019s underwriting performance has been modest and subject to volatility, with non-life combined ratios typically trending close to break even, leaving the company reliant on investment income. While underwriting performance weakened in 2025, with a combined ratio of 115.4%, as calculated by AM Best, management is expected to take actions to address its very high expense ratio.<\/p>

\nThe business profile assessment reflects SCI\u2019s position as a mid-tier insurer in Egypt, with a non-life market share of approximately 4%. The company\u2019s profile is limited to operating solely within Egypt. In recent years, SCI has undertaken positive steps to formalise its ERM function and promote a risk-aware culture across the organisation. AM Best expects that further improvements in SCI\u2019s ERM framework and practices will support the company as it executes its strategic business plan.<\/p>

\nThis press release relates to Credit Ratings that have been published on AM Best\u2019s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best\u2019s <\/b>Recent Rating Activity<\/b><\/a> web page. For additional information regarding the use and limitations of Credit Rating opinions, please view <\/b>Guide to Best\u2019s Credit Ratings<\/b><\/a>. For information on the proper use of Best\u2019s Credit Ratings, Best\u2019s Performance Assessments, Best\u2019s Preliminary Credit Assessments and AM Best press releases, please view <\/b>Guide to Proper Use of Best\u2019s Ratings & Assessments<\/b><\/a>.<\/b><\/p>

\nAM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit <\/b>www.ambest.com<\/b><\/a>.<\/b><\/p>

\nCopyright \u00a9 2026 by A.M. Best Rating Services, Inc. and\/or its affiliates. ALL RIGHTS RESERVED.<\/b><\/p> Contacts<\/b>

\nCarenza Miles<\/b>Financial Analyst<\/b>+44 20 3808 5700<\/b>carenza.miles@ambest.com<\/a>\nChristopher Sharkey<\/b>Associate Director, Public Relations<\/b>+1 908 882 2310<\/b>christopher.sharkey@ambest.com<\/a>\nJessica Botelho-Young, CA<\/b>Director, Analytics<\/b>+44 20 7397 0310<\/b>jessica.botelho-young@ambest.com<\/a>\nAl Slavin<\/b>Senior Public Relations Specialist<\/b>+1 908 882 2318<\/b>al.slavin@ambest.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"

LONDON–(BUSINESS WIRE)–AM Best has affirmed the Financial Strength Rating of B- (Fair), the Long-Term Issuer Credit Rating of \u201cbb-\u201d (Fair) and the Egypt National Scale Rating (NSR) of aa+.EG (Superior) of Suez Canal Insurance (SCI) (Egypt). The outlo…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27026","post","type-post","status-publish","format-standard","hentry","category-infos-businesswire"],"_links":{"self":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/27026","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27026"}],"version-history":[{"count":1,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/27026\/revisions"}],"predecessor-version":[{"id":27027,"href":"https:\/\/stocks-future.com\/index.php?rest_route=\/wp\/v2\/posts\/27026\/revisions\/27027"}],"wp:attachment":[{"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27026"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27026"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stocks-future.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27026"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}