The rating agency AM Best has revised the outlook to positive from stable and affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Qatar Islamic Insurance Group (QIIG).
The ratings reflect QIIG’s balance sheet strength, which AM Best categorises as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
The revision of the outlook to positive reflects AM Best’s expectation that QIIG will continue to generate strong operating returns over the short to medium term. Qatar Islamic Insurance Group is the pioneer of Islamic Insurance in the State of Qatar offering both Life and non-life insurance products since 1995.
QIIC adopts a combined takaful model and has consistently generated surpluses within the policyholders’ fund and regularly distributed surplus back to policyholders whilst regularly paying attractive dividends to shareholders.
