The ratings agency said factors that derived as an anchor to SNIC rating is their fair business risk profile and strong financial risk profile.
An additional support is the commitment and strong support of SNIC shareholders - E A Juffali & Brothers,
This is purely reflected in the SNIC book of good quality business and the technical expertise that is supplemented by the input of
"SNIC is proud to be one of the very few local insurance companies to be rated by Standard and Poor's," general manager
This was despite the company's relatively new operation in
"The consecutive affirmation of our rating reflects our solidity and stability in the market despite the soft market and challenges which will continue to support our future goals and target in the financial and industrial sector.
"Such a rating by S&P will also assist us in regional expansion and diversification of our business activities,"
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