Business Wire

A.M. Best Affirms Credit Ratings of #Qatar Islamic #Insurance Company Q.S.C.

A.M. Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of “bbb+” of Qatar Islamic Insurance Company (QIIC). The outlook of these Credit Ratings is stable. QIIC adopts a hybrid takaful model, whereby the shareholders’ fund (SHF) charges the policyholders’ fund (PHF) a Wakala fee based on gross written contributions (GWC) and a Muderaba fee based on investment income. QIIC has a track record of strong operating and technical profitability, highlighted by a five-year average combined ratio of 79% that has remained very stable over recent years. Although the company is concentrated to its domestic market of Qatar, the company maintains a niche market position as an established provider of Shari’a compliant products.

Arabesque Appoints Three New Members to Board of Directors

Arabesque has appointed three new non-executive directors to the Board: Dr Carolyn Woo, former CEO of Catholic Relief Services; Professor John Ruggie, Harvard Kennedy School; and Yolanda Kakabadse, President of WWF International. They join Barbara J. Krumsiek, former CEO and President of Calvert Investments, and Georg Kell, founding Executive Director of the United Nations Global Compact, on the Board of Directors. Arabesque is an asset management firm that spun off from Barclays Bank in 2013. The firm’s approach to stock selection integrates environmental, social and governance (ESG) information with financial and momentum analysis.

Fitch Affirms JANY Sukuk Company Limited's Senior Debt at 'A'

Fitch Ratings has affirmed the rating of The Goldman Sachs Group Inc.'s (GS) JANY Sukuk Company Limited (JANY) guaranteed trust certificate issuance programme at 'A'. The certificate programme's rating is equalized with GS's Issuer Default Rating (IDR) of 'A'. GSs ratings continue to be supported by its investment banking franchise, solid liquidity position, better-than-average capital position, and strong risk management. The ratings are constrained by GS's focus on capital market activities and relatively higher wholesale funding. The rating of the programme will be influenced by changes in GS's long-term IDR.

Syndicate content