HomeInsuranceMa'aden Re assigned "good" credit rating from AM Best

Ma’aden Re assigned “good” credit rating from AM Best

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MRE, established in November 2021, is a relatively new entity and completed its first full year of operations in 2022. As such, it has a limited track record of performance. The captive’s profitability in 2022 was significantly impacted by two large claims, leading to a combined ratio of 175.9% for the year. However, AM Best projects an improvement in MRE’s profitability in 2023, which is expected to support an adequate performance assessment over time.

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