image description
image description

Archives


  • 29-07-21

    S&P Global Ratings estimates more capital raises

    (MENAFN)S&P Global Ratings showed that Islamic insurers in the GCC may witness profitability wane in the July-December period of 2021 as they confront a tough competitive environment amid weak performance in some sectors hurt by the Coronavirus pandemic.

    According to S&P credit analyst Emir Mujkic, some smaller Takaful companies are going to need to raise capital or merge, particularly in Saudi Arabia and Kuwait, where losses have persisted.

    He further declared that “Our outlook on the sector for the next 12 months remains stable,” though, given that risks related to the pandemic persist, we could take rating actions in the event of a sharp decline in asset prices, unexpected and severe technical losses, or governance and internal control failures.”

    S&P Global Ratings calculations added that Takaful insurers marked modest improvement of about 1.5 percent in 2020 and about 1.0 percent in first three months of 2021.

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved