Bahrain: Takaful International maintains strong operating performance

Source: Middle East Insurance Review | Dec 2024

Takaful International Company has enjoyed the strategic support of its parent company, GIG-Bahrain and Gulf Insurance Group, and shared synergies and a disciplined approach to corporate governance.

Following its annual review, AM Best has affirmed Takaful International’s ‘A-‘(excellent) rating and the long-term issuer credit rating of ‘a-’, with a ‘Stable’ outlook for both ratings.

Takaful International is the only takaful company in Bahrain to be classified in the ‘A-’ financial and credit rating category, the highest credit rating for takaful companies in the kingdom.

Takaful International CEO Essam Al Ansari said, “AM Best’s acknowledgment of Takaful International’s business strategy, which is built on principles of financial discipline, transparency and a commitment to corporate governance, reinforces our strong track record of consistent performance. The report from international rating agency AM Best, coming amidst many challenges facing both the regional and global insurance markets, confirms the company’s ability to adapt to the volatile conditions of the insurance market while maintaining its financial stability and sustainable growth.” M

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