Doha-Mubasher: A.M. Best has affirmed the financial strength rating of 'B++' and the issuer credit ratings of 'BBB+' of Qatar Islamic Insurance Co. (QIIC), with Stable Outlook.

The ratings reflect the company's adequate combined risk-adjusted capitalisation, sustainable policyholders’ fund, good track record of operating performance and niche market position as a Takaful provider in the Qatari market.

Moody's Investors Service had earlier withdrawn the 'Baa1' insurance financial strength rating and Stable outlook on QIIC.

The stock stabilised at QAR 66 two hours from Wednesday's session opening. A total of 40  shares changed hands through a single transaction at a turnover of QAR 2,640.