Sheikh Nawaf: Benefiting from buoyant Qatari economy.
“We are pleased with the decision. This outcome is a true reflection of the solid financial position of the Qatari economy and the unwavering support of the State of Qatar.” Earlier, AM Best said, “The ratings reflect the risk cover provider’s very strong risk-adjusted capitalisation, good business profile in Qatar’s insurance market and track record of solid operating performance.
“The insurance group’s risk-adjusted capitalization remains very strong, benefiting from low underwriting leverage, and a well-rated reinsurance panel to mitigate counter party credit risk. Capital consumption continues to be driven by investment risk, due to the company’s material exposure to domestic equities.”