AM Best places National Life & General Insurance's rating under positive watch

AM Best has placed National Life & General Insurance Company's (NLGIC) financial strength rating of "B++" and long-term credit rating of "bbb+" under review with positive implications.

This decision follows the acquisition of 100% of the capital of RSA Middle East, a subsidiary of the British group Royal & Sun Alliance Insurance (RSA) by the Omani insurer.

The rating agency expects the transaction to have a positive impact on NLGIC's business profile.

The ratings will remain under review until the formal finalization of the operation scheduled for the third quarter of 2022.