OREANDA-NEWS. A.M. Best has affirmed the financial strength rating of B++ (Good) and the issuer credit rating of “bbb+” of Emirates Retakaful Limited (ERL) (United Arab Emirates). The outlook for each rating remains positive.

The ratings reflect ERL’s strong risk-adjusted capitalisation and stable, yet modest technical performance. An offsetting rating factor is ERL’s limited business profile, which has been affected by intense competition and the prevailing softening of the global reinsurance market.