Alkhaleej Takaful Insurance: AM Best rating

AM Best has granted Alkhaleej Takaful Insurance (AKTI) a financial strength rating of “A-” (Excellent) and a long-term credit rating of “a-” (Excellent). The outlook for both ratings is stable.

The rating recognizes the Qatari insurer's strong balance sheet, limited business profile and appropriate enterprise risk management.

AM Best's decision was also motivated by the company's strong operating performance, reflected in a five-year (2019-2023) weighted average combined ratio of 83.6%.

Between 2019 and 2023, AKTI's average annual growth rate in turnover stood at 4.5%. The company expects a significant increase in premiums in 2024.