KUWAIT: Standard & Poor’s Ratings Services has assigned ‘BBB-’ long-term counterparty credit and financial strength ratings to insurer First Takaful Insurance based on its good level of capitalization, liquidity and profitability with a stable outlook. The positive developments are partly attributed to the company’s aggressive and regionally concentrated investment policy, as well as the company’s position in a relatively small and very competitive market. The company’s underwriting performance, with a combined ratio of 98.6% for 2008 and a five-year average....