AM Best downgrades ratings of Antares and owner QIC
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AM Best downgrades ratings of Antares and owner QIC

Aisling Finn
16 December 2022
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AM Best has downgraded the financial strength rating (FSR) of Bermuda-based Antares Reinsurance Company and its owner Qatar Insurance Company (QIC) to A- from A, which the ratings agency said reflected a revised assessment of QIC’s operating performance to “adequate from strong”.

The ratings agency also downgraded the pair’s long-term issuer credit ratings to ‘a-’ from ‘a’, though its outlook for the credit ratings has been revised from negative to stable.

AM

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Aisling Finn
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