Doha Insurance Group chairman Sheikh Nawaf Nasser bin Khaled al-Thani said DIG has “successfully maintained its share within the Qatari and regional markets with a balanced income from underwriting and investments.”
In addition, the group has upgraded its enterprise risk management framework and work structure, Sheikh Nawaf said in response to rating agency AM Best affirming Doha Insurance’s current rating at ‘A- ‘ with a stable outlook.
“We are pleased with the decision. This outcome is a true reflection of the solid financial position of the Qatari economy and the unwavering support of the State of Qatar.”
Earlier, AM Best said, “The ratings reflect the risk cover provider’s very strong risk-adjusted capitalisation, good business profile in Qatar’s insurance market and track record of solid operating performance.
“The insurance group’s risk-adjusted capitalisation remains very strong, benefiting from low underwriting leverage, and a well-rated reinsurance panel to mitigate counterparty credit risk. Capital consumption continues to be driven by investment risk, due to the company’s material exposure to domestic equities.”
LEAVE A COMMENT Your email address will not be published. Required fields are marked*
US economy to ‘rock’ as GOP races to tax-cut finish, says Trump
Busiest year for Brazilian IPOs since 2013 ends on flat note
Strike over Teva firings shuts Israel bourse, banks, airport
US healthcare draws election-year worry, but ’16 repeat not seen
Oil barely changed; natural gas hurt by lack of cold weather
Pound’s prospects to be shaped by ‘bones’ of Brexit trade talks
Hong Kong bourse targets next Alibaba in IPO rules revamp
US shale explorers signal 2018 growth as hedging surge surfaces
Biggest voices in oil disagree on outlook for next year