S&P downgrades the rating of Qatar Life and Medical Insurance

Standard & Poor’s (S&P) has downgraded the financial strength rating of Qatar Life and Medical Insurance (QLM) from A to A- with a stable outlook.

On 13 January 2021, the subsidiary of Qatar Insurance Co (QIC) made an IPO on the Qatar Stock Exchange. The rating agency now assigns ratings to QLM that are independent of those of QIC. The rating thus reflects QIC's intention to withdraw the guarantees it provides on QLM's insurance policies.

However, S&P believes that the Qatari insurer’s strong capitalization would allow it to achieve good performance.