Damaan Islamic Insurance Company: AM Best rating

Damaan Islamic Insurance Company (Beema)AM Best has assigned an "A-" (Excellent) financial strength and "a-" long-term credit rating to Damaan Islamic Insurance Company (Beema). The outlook is stable.

The rating reflects the insurer's position as the second largest player in the Qatari takaful insurance market. In 2022, Beema has recorded a turnover of 393 million QAR (108.5 million USD).

AM Best's decision is also based on the company's strong operational performance, illustrated by an average combined ratio of 80.5% over five years (2018-2022).
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