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Share: AM Best has upgraded the Financial Strength Rating to A- (Excellent) from B++ (Good) and the Long-Term Issuer Credit Rating to a- from bbb+ of Qatar Islamic Insurance Group Q.P.S.C. (QIIG) (Qatar). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. The ratings reflect QIIG s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management. The rating upgrades reflect continued strengthening of QIIG s capital base through the retention of earnings as the company continues to demonstrate strong operating returns. In 2020, capital and surplus grew by 4.5% to reach QAR 396 million (QAR 591 million including policyholders fund). QIIG employs a hybrid takaful model, whereby the shareholders fund charges the policyholders fund (PHF) a Wakala fee based on gross written contributions (GWC) and a Mudaraba fee based on investment in

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