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
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