LONDON--(BUSINESS WIRE)--A.M. Best has withdrawn the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of QIC International LLC (QICI) (Qatar) as the company has requested to no longer participate in A.M. Best’s interactive rating process. QICI is a subsidiary of Qatar Insurance Co. S.A.Q. (QIC).
QICI previously conducted insurance operations in the United Arab Emirates, Kuwait and Oman through branches and subsidiaries. However, as part of the group’s restructuring, the company’s insurance-related assets and liabilities have been transferred to QIC.
A.M. Best’s procedure is for a final rating opinion to be produced in conjunction with a rating withdrawal. However, because QICI’s balance sheet does not contain any insurance-related assets or liabilities, A.M. Best was unable to produce a final rating opinion.
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