AM Best affirms Qatar Islamic Insurance Group's rating

AM Best has confirmed the “A-” (Excellent) financial strength and “a-” (Excellent) long-term credit ratings of Qatar Islamic Insurance Group (QIIG). The outlook for both ratings remains stable.

The rating recognizes QIIG's strong balance sheet, good operating performance, limited business profile and appropriate enterprise risk management.

The Qatari insurer closed the 2024 financial year with a turnover of 551.2 million QAR (157.4 million USD).

Over the 2020-2024 period, the average combined ratio and return on average equity stood at 73.1% and 16.6% respectively.