"On the other hand, the ratings are weighed down by the Group’s small market share, its below-average life insurance underwriting standards and limited investment avenues owing to adherence to Shari’ah-compliant investments."
The firm was helped by lower exposure to motor insurance particularly at its Maldives unit, RAM said.
The full statement is reproduced below:-
RAM Ratings Lanka assigns Amana Takaful PLC’s claims paying ability rating of BBB-/P3
RAM Ratings Lanka has assigned Amana Takaful PLC (ATL or the Company) long- and short-term claims-paying ability rating of BBB- and P3, respectively. The outlook on the long term rating is stable.
The ratings are supported by ATL’s above-average general insurance underwriting performance, conservative investment po