Mubasher: A.M. Best Co on Sunday affirmed its financial strength rating of “A” (Excellent) on Qatar Insurance Company (QIC).
The outlook of QIC, QIC International LLC (QICI) and Qatar Reinsurance Company Limited (Qatar Re) credit ratings would remain stable, Al Sharq newspaper reported, citing the annual report of the insurance company ratings firm.
“The ratings reflect QIC’s balance sheet strength, which A.M. Best categorises as very strong, its neutral business profile, strong operating performance and appropriate enterprise risk management (ERM),” the report stated.
A.M. Best projected that strong internal capital generation and long-term capital support from shareholders to continue to shore up QIC’s growth strategy.
Moreover, QIC has a track record of robust operating performance, as the expected average of shareholders’ revenues reached 15.4% from 2012 to 2016.
