Mubasher: Standard & Poor's (S&P) has revised its outlook on Qatari insurer Al Khaleej Takaful Group (KTG) to positive from stable. At the same time, the ratings agency affirmed its 'BBB' long-term insurer financial strength and counterparty credit ratings on KTG.
The outlook revision follows a significant improvement of the company’s operating performance in 2015, which has strengthened its competitive position, said S&P.
The agency added that the insurer managed to maintain its market share and developed business, and thus achieved technical profitability at least in line with the market average.
