Summary: Qatar Insurance Co. S.A.Q. Aug 11
- ID: 2092098
- August 2011
- Region: Qatar
- Standard & Poors
The ratings on Qatar-based insurer Qatar Insurance Co. S.A.Q. (QIC) reflect the company's very strong capitalization, strong competitive position, and strong underwriting performance. These strengths are partially offset by high, but reducing use of reinsurance; and a locally concentrated investment portfolio, particularly in equities. QIC's capitalization is very strong, and therefore a relative strength for the rating. The company has been affected by movements in global markets and although its total equity remains below the 2007 peak, it has recovered ground in 2010. This has been achieved through lower dividend payments in line with the long term level and a more restrained approach to investment, away from equities, with an emphasis on certainty of income. Standard & Poor's Ratings Services...
Companies mentioned in this report are:
- Qatar Insurance Co. S.A.Q.
- Swiss Reinsurance Co. Ltd.
- Munich Reinsurance Co.
- QIC International LLC
- Qatar Reinsurance Company LLC
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included. SHOW LESS READ MORE >