Abu Dhabi National Insurance Company (Adnic), one of the leading multi-line insurance providers for corporates and individuals in the gulf, had its ratings reaffirmed at a financial strength rating of A (Excellent) and a long-term issuer credit rating of “a” (Excellent), both 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.
Ahmad Idris, Chief Executive Officer of Abu Dhabi National Insurance Company (Adnic), said: “AM Best’s rating underscores Adnic’s strong capitalisation, financial flexibility and steady earnings and business growth over many years. Adnic’s disciplined underwriting approach has contributed to our consistent track record of double digit Return on Equity. As we celebrate our 50th year of operations in 2022, Adnic will continue to maintain its competitive advantage through a clear strategy, underwriting discipline, operational excellence and a diversified investment portfolio.”
Copyright © 2022 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.