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A.M. Best affirms QGRI's ratings at “A-”

A.M. Best affirms QGRI's ratings at “A-”
QGIRC’s balance sheet strength is driven by the strongest level of risk-adjusted capitalisation
General Insurance
QGRI
1.82% 1.12 0.02

Mubasher: A.M. Best Co has affirmed its financial strength rating (FSR) of A- (Excellent) and long-term issuer credit rating (ICR) (Long-Term ICR) of “a-” of 
Qatar General Insurance and Reinsurance Company  (QGRI), the Qatar-based firm said on Wednesday. 

The ratings reflected the strength of the company’s balance sheet, as well as its robust operating performance, limited business profile and appropriate enterprise risk management, the insurance company ratings firm said. 

"QGIRC’s balance sheet strength is driven by the strongest level of risk-adjusted capitalisation, supported by high levels of liquidity to support its insurance operations, low premium leverage and well-rated reinsurance panel," A.M. Best Co said. 

The Qatari group’s operating performance remarkably benefits from returns derived from its investment operations, particularly from substantial unrealised gains on its real estate portfolio, the US-based business intelligence and insurance rating company added.