ADNIC Assigned Financial Strength Rating of A (Excellent) And Long-term Issuer Credit Rating of “A” by AM Best

Published October 10th, 2021 - 07:22 GMT
ADNIC Assigned Financial Strength Rating of A (Excellent) And Long-term Issuer Credit Rating of “A” by AM Best
The rating reflects ADNIC’s balance sheet strength, as well as its strong operating performance.

Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, has been assigned a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a” (Excellent) with a stable outlook by ratings agency AM Best.

The rating reflects ADNIC’s balance sheet strength, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management which AM Best assesses as very strong.

Ahmad Idris, Chief Executive Officer of Abu Dhabi National Insurance Company (ADNIC), said: “AM Best’s rating underscores ADNIC’s underlying financial strength and track record of success and stability over many years. This follows the strong performance witnessed across our operations in the first half of 2021. As we approach our 50th year of operations, ADNIC will continue to maintain its competitive advantage through a clear strategy, underwriting discipline, operational excellence and a diversified investment portfolio.”

Earlier in the year, ADNIC’s credit rating upgraded to ‘A’ with a stable outlook by Standard & Poor’s (S&P).

Background Information

Abu Dhabi National Insurance Company - ADNIC

Abu Dhabi National Insurance Company (ADNIC) PJSC is a composite insurance partner with long-standing expertise in providing insurance products to individuals and corporates across the Middle East and North Africa (MENA) region. Founded in the United Arab Emirates (UAE) in 1972, ADNIC has a wide network of branches as well as sales and service centers across the country. ADNIC also has a representative office in London, under the name ADNIC International Ltd. ADNIC is a publicly listed company on Abu Dhabi Securities Exchange (ADX).
 

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