AM Best grants Arab Orient Insurance Company a B++ rating

AM Best has upgraded the financial soundness and the credit ratings of Arab Orient Insurance Company (AOIC) to respectively B++ and bbb. The Jordanian AOIC branch has been rewarded for its good capital, its position as a leader on the local market (12% of the market shares) and for its stable technical performance. The underwritingprofits have attained 5.2 million USD in 2009 for a combined ratio of 80%. Its investment strategy rests on conservative profile with a return ranging between 3% and 5%. The turnover growth is estimated at 15% per year for the next two years.