ADNIC assigned financial strength rating of A and long-term issuer credit rating of ‘a’ by AM Best
ABU DHABI, 10th October, 2021 – Abu Dhabi National Insurance Company (ADNIC), 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, CEO of 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).