Published: July 14, 2014 - London

Oveview

- Following Doha Insurance Group's successful rights issue of Qatari riyal

437 million, we now have a more favorable view of the company's depth of

capital and the likely development of its risk profile.   

- We expect that Doha will use the proceeds to fund growth of its         

underwriting activities, and not to increase its level of investment

risk. As a result, we believe its capital adequacy relative to its likely

risk exposure development will sustainably improve, making its balance

sheet more resilient to sudden shocks.

- We are therefore raising the ratings on Doha to 'A-' from 'BBB+'. 

 - The stable outlook reflects our view that Doha will maintain its 

 extremely strong capital adequacy as the company expands its franchise 

 outside of Qatar, without a material increase in investment risk or 

 capital extraction through special dividends.

Rating

LONDON (Standard & Poor's) July 14, 2014--Standard & Poor's Ratings Services

said today that it raised the insurer financial strength and counterparty

credit ratings on Qatar-based Doha Insurance Group. to 'A-' from 'BBB+'. The

outlook remains stable.