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 is stable.

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

In 2022, the Qatari insurer recorded a 9% turnover growth to reach 467.3 million QAR (129.1 million USD). The average return on equity (ROE) over the 2018-2022 period stands at 13.8%.