AM Best has affirmed the financial strength rating of B++ (good) and the long-term issuer credit rating of “bbb+” (Good) of UAE-domiciled Ma’aden Re Limited (MRE). The outlook for the ratings is stable.
MRE is a captive reinsurer a single parent captive owned by Saudi Arabian Mining Company (Ma’aden) and established in November 2021. It is managed by Marsh, according to Ci DataHub.
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