Doha: AM Best has affirmed Qatar General Insurance and Reinsurance Company's financial strength and its long-term credit rating, with a stable outlook. The credit rating agency confirmed the company's financial strength rating at B++ (Good) and its long-term issuer credit rating at bbb (Good).
According to Qatar News Agency, in a statement published on the Qatar Stock Exchange website on Tuesday, the company also reported a 28.6% increase in net profit for the first quarter of the year. The net profit rose to QAR 63.85 million, compared with QAR 49.64 million in the corresponding period a year earlier.