Takaful awarded highest Financial rating of ‘A-’

Takaful International Company has been assigned a Financial Strength Rating of (A-) Excellent with a stable outlook and a Long-Term Issuer Credit Rating of “a-“ by AM Best Rating Agency.

The rating, Takaful said, reflects the sound financial position enjoyed by the company, being the only takaful provider in the kingdom to be rated (A-) Stable Outlook. AM Best said the rating reflects the efficiency of operational performance, the robust procedural system on the performance of risks, and the strong link it has with its parent company and Gulf Insurance Group.

The statement also highlights that Takaful International Co. is at an advantageous position with its synergized operations with gig-Bahrain and its pioneering position in the kingdom’s takaful market. Essam Mohamed Al-Ansari, CEO of the company, expressed his happiness at receiving the financial and credit ratings.

The move, he said, reflects the company’s position as a strategic pioneering market leader having a prominent role in setting the fundamentals of the takaful industry in the kingdom since its establishment in 1989.

The CEO said that the company focuses on enhancing operational capacity in Bahrain and becoming distinctive addition as a member of Gulf Insurance Group expending around the MENA region. He noted that the company has adopted a balanced underwriting and investment strategies that had positively affected the company’s financial results.