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AM Best Releases Country Risk Assessment Report on Iraq


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AM Best Releases Country Risk Assessment Report on Iraq

January 18, 2021 09:51 AM Eastern Standard Time

OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has released a new Country Risk Assessment Report on Iraq, which provides an economic, political and financial system risk assessment on the country.

With the new assessment on Iraq, AM Best now has produced country risk reports on 138 countries. AM Best determines country risk levels by assessing country-specific factors that could adversely affect an insurer’s ability to meet its financial obligations. Country risk is evaluated and factored into all AM Best ratings. As part of evaluating country risk, AM Best identifies the various factors within a country that may directly or indirectly affect an insurance company. Countries are placed into one of five tiers, ranging from CRT-1 (Country Risk Tier 1) – denoting a stable environment with the least amount of risk – to CRT-5 (Country Risk Tier 5) – for countries that pose the most risk, and therefore, the greatest challenge to an insurer’s financial stability, strength and performance.

The Country Risk Tier of CRT-5 for Iraq reflects a very high level of economic, political and financial system risk.

Country risk is incorporated into the analysis of balance sheet strength, operating performance, and the business profile of all rating units. Analysis is done on each rating unit’s country of domicile as well as country of operations (regulation, asset, and insurance exposure). Please visit AM Best’s Country Risk center for the complete listing of Country Risk Tiers and country-specific reports.

For more information about AM Best’s country risk methodology, “Evaluation Country Risk,” please visit the methodology section of AM Best’s website.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

https://www.businesswire.com/news/home/20210118005353/en

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“The Country Risk Tier of CRT-5 for Iraq reflects a very high level of economic, political and financial system risk.”

 

CRT-5 means:

Unpredictable and opaque political, legal and business environment, with limited or non existence capital markets;

low human development and social instability; nascent insurance industry.

 

NO good for international investors.!

 

 

 

 

 

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7 minutes ago, PrehistoricMan said:

Thanks for being positive.  Someone else had said that they dont see investors coming into Iraq UNTIL they have changed the rate.

 

no worries PHman , don't get me wrong , iraq imo has many glaring issues for sure ( but so does almost every other country on the globe )  but for some reason countries around the world continue to help and prop iraq up like no other and for what reason 🤔  that keeps hope alive  ...

cheers

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11 hours ago, Wiljor said:

 

81B5E296-6CF4-448D-ACFC-AC7ADFFD60CF.jpeg

30DDD5BD-A255-4572-A2DD-EED9B0698003.jpeg

If iraq country risk tier 5: very high risk of country risk, then why did iraq want to waste monies to  print 100,000 denominations ( i read the articles about printing 100,000 denomination before ) instead of just delete 3 zeros from the exchange rate? And beside, iraq already printed lower denoms a long time ago. Therefore, iraq should be ready to delete 3 zeros and release lower denoms at anytime. Only time will tell and time is decided only by the cbi and minister of finance. Whenever they are ready, they will do it and one day boom surprise dinar investors.

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