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A.M. Best Places Credit Ratings of Oman Reinsurance Company SAOC Under Review With Negative Implications

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A.M. Best has placed under review with negative implications the
Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit
Rating of "bbb-" of Oman Reinsurance Company SAOC (Oman Re)
(Oman).

The Credit Rating (rating) actions follow the delay in Oman Re's main
shareholder, Trust International Insurance & Reinsurance
Company B.S.C. (c) Trust Re
(Trust Re), releasing its audited
financial statements for the year ended 31 December 2017, due to
additional regulatory requirements.

The under review with negative implications status reflects A.M. Best's
uncertainty regarding the financial position of Trust Re, in light of
the delayed publication of its financial statements, and the impact this
could have on Oman Re's ratings, which benefit from rating enhancement
from Trust Re.

The ratings will remain under review pending publication of Trust Re's
audited financial statements for year-end 2017 and A.M. Best's
subsequent assessment of the rating fundamentals of Oman Re.

This press release relates to Credit Ratings that have been published
on A.M. Best's website. For all rating information relating to the
release and pertinent disclosures, including details of the office
responsible for issuing each of the individual ratings referenced in
this release, please see A.M. Best's
Recent
Rating Activity
web page. For additional information
regarding the use and limitations of Credit Rating opinions, please view
Understanding
Best's Credit Ratings
. For information on the proper media
use of Best's Credit Ratings and A.M. Best press releases, please view
Guide
for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating
Action Press Releases
.

A.M. Best is a global rating agency and information provider with a
unique focus on the insurance industry. Visit
www.ambest.com
for more information
.

Copyright © 2018 by A.M. Best Rating Services, Inc. and/or its
affiliates. ALL RIGHTS RESERVED.

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