Gulf Re is no longer on negative watch by AM Best

AM Best confirms ratings of Gulf Re. The financial strength rating of the reinsurer is maintained at A- (Excellent) while the credit one is of a-.

The rating agency withdrew the comment "negative watch" it imposed on the UAE reinsurer in the past.

This improvement follows the acquisition of 50% of Gulf Re by the Bermudian reinsurer Arch. The latter commits to taking over Gulf Re's operations and lending it any technical assistance.