Mubasher: Moody's Investors Service has upgraded the insurance financial strength rating (IFSR) of Damaan Islamic Insurance Company (Beema) to "Baa1" from "Baa2", according to a statement.

The rating agency maintained the “positive” outlook for the Qatar-based insurance firm.

The rating reflects the company’s sustained strong profitability and strengthened market position and brand.

The company maintained a capital adequacy level with consolidated equity of QAR 332 million by the end of 2016.