Doha-Mubasher: Standard & Poor’s Ratings Services (S&P) raised the credit ratings on Doha Insurance Company to ‘BBB+’ from ‘BBB’, with ‘Stable’ outlook, according to a recent report.

The upgrade is mainly attributed to Doha Insurance’s financial risk profile which contributed to its net profit growth in 2014.

The company will maintain its current capital to support its projects in the coming years, S&P said.

The insurance firm makes up less than 2% of the market, although its insurance premiums reached QAR 107.1 million in 2014.