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Financial Strength Rating (FSR)
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Financials

A.M. Best Financial Strength Rating

 

The international rating agency A.M. Best, assigned First Insurance Company a financial strength rating of B++ (stable outlook) which is considered the highest rating given to a Jordanian insurance company.

 

AM Best indicates in their report that the rating reflects FIC’s superior level of risk-adjusted capitalisation and good overall financial performance. In addition, AM Best reflects on FICs overall achievement by stating that FIC has successfully established itself within the Jordanian market since inception and is likely to become the leading Takaful insurer in Jordan over the short to medium term.

 

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A.M. Best Press Release

 

A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of B++ (Good) and issuer credit rating of “bbb” to First Insurance Company (FIC) (Jordan). The outlook assigned to both ratings is stable.

 

The ratings reflect FIC’s superior level of risk-adjusted capitalisation and good overall financial performance. The company’s modest size offsets the ratings, although it is partially mitigated by FIC’s takaful and young nature.

 

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