AM best affirms rating of Qatar General Insurance & Reinsurance Company (QGIRC)

AM Best has confirmed the "B++" (good) financial strength and "bbb" long-term credit ratings of Qatar General Insurance & Reinsurance Company (QGIRC).

The rating reflects the company's strong balance sheet, adequate operating performance, limited business profile and appropriate enterprise risk management. The company's balance sheet strength is underpinned by a high level of risk-adjusted capitalization.

Nevertheless, the rating agency has maintained its negative outlook for the company due to concerns about QGIRC's risk management and internal controls.