5 days ago
S&P upgrades Alkhaleej Takaful Insurance credit rating to A-
Doha, Qatar: The S&P Global Ratings has upgraded the long-term issuer credit and insurer financial strength ratings of Alkhaleej Takaful Insurance Company from BBB+ (positive) to A-, with a stable outlook.
According to a statement published on the Qatar Stock Exchange website, the upgrade reflects the company's strong operating performance, which has consistently outperformed the market average in underwriting results, in addition to the significant improvements in the company's risk profile, achieved through various de-risking measures.
Established in 1979, Alkhaleej Takaful Insurance Company offers a range of insurance and reinsurance services. Since 2010, it has operated as a Takaful (Islamic insurance) provider.
Over the years, the company has contributed to Qatar's economic development by offering insurance coverage for major government infrastructure projects as well as protecting the assets and properties of companies and individuals.
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