The ratings reflect DIG’s balance sheet strength, which
The company’s risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), was assessed at the strongest level at year-end 2017. Capital requirements are driven largely by asset risk arising from the company’s investment portfolio, which is weighted toward domestic equities. However, DIG has an excellent liquidity position and a sufficient capital buffer to absorb volatility arising from these assets. Whilst DIG’s premium retention increased to 40% at year-end 2017 from 21% in 2013, the company still has a high reliance on reinsurers. Elevated levels of credit risk are mitigated through the use of a well-rated reinsurance panel.
DIG reported profit before tax of
The company has an established profile in Qatar’s insurance market, where it benefits from being one of the leading national insurance companies and has a well-diversified underwriting portfolio, by line of business. The company benefits from a modest level of geographical diversification through its regional reinsurance division, which writes fire and engineering risks across the
ERM has improved materially over the past 18 months, as the company integrates a more formal risk management framework while simultaneously raising the quality of the internal control environment.
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and
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