Qatar General Insurance & Reinsurance Company (QGIRC) has reported a track record of adequate underwriting profitability, according to a report by AM Best. However, the company has also incurred significant unrealized investment losses over the past six years, which have offset its profitable underwriting performance. AM Best has affirmed QGIRC’s Financial Strength Rating of ‘B++’ (Good) and Long-Term Issuer Credit Rating of ‘bbb’ (Good), with a negative outlook. The ratings reflect QGIRC’s consolidated balance sheet strength, adequate operating performance, limited business profile, and appropriate enterprise risk management.
Source and Details