AM Best confirms Takaful International's rating (A-)

TDT | Manama

The Daily Tribune – www.newsofbahrain.com

The Global Credit Rating agency AM Best has affirmed the Financial Strength Rating of A- (Excellent) the credit rating of A- with a stable outlook for Takaful International (gig-takaful).

gig-takaful is the only takaful provider in the kingdom to be rated (A-) for financial strength and credit standing.

The rating reflects the sound financial strength, 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.

According to the global agency's statement, these ratings confirmed the company's leading role in the Bahraini local market at the level of takaful companies.

Commenting on this statement, Essam Al-Ansari, CEO, said, " "We are pleased to sustain this credit rating of the company in light of the current market situation with some recovery witnessed by the local and international markets, with life returning to normalcy”.

Essam also added that this rating comes in appreciation of its business strategy based on sound principles of financial discipline and transparency and full commitment to corporate governance principles.

Takaful International Company B.S.C. is the first Islamic Insurance Company in Bahrain. It was established in 1989.