LONDON–(BUSINESS WIRE)–A.M. Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb” from “bbb+” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of ARABIA Insurance Company s.a.l. (AIC) (Lebanon). The Long-Term ICR outlook has been revised to stable from negative. The FSR outlook remains stable. The rating downgrade reflects AIC’s weak underwriting performance over recent years, which, together with volatile investment results, has eroded the company’s ca
