AM Best Revises QIIG’s Outlooks to Positive

Credit rating agency, AM Best, has amended the outlooks to positive from stable and affirmed the long term issuer credit rating of ‘bbb+’, as well as financial strength rating of ‘B+++’ (Good) of Qatar Islamic Insurance Group (QIIG).

This rating revision reflects QIIG’s balance sheet strength, its appropriate enterprise risk management, as well as the generation of strong operating returns over the short to medium term.

Balance sheet strength of QIIG is supported by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). QIIG maintains sufficient liquidity to back its insurance operations; however,...