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AM Best affirms Dubai National Insurance's credit rating; outlook positive

AM Best affirms Dubai National Insurance's credit rating; outlook positive
This rating shows DNIR's strong balance sheet
DNIR
DNIR
0.71% 7.05 0.05

Dubai – Mubasher: AM Best rating agency has affirmed the financial strength rating of Dubai National Insurance and Reinsurance (DNIR) at 'B++' and the long-term issuer credit rating at 'bbb+', with a positive outlook.

This rating shows DNIR's strong balance sheet and operational performance, limited business profile, and appropriate enterprise risk management, according to a recent press release.

Meanwhile, the positive outlook reflects the expectation that DNIR’s balance sheet will strengthen over the medium term, as the risk-adjusted capitalisation will improve and be kept at the strongest level.

It is noteworthy to mention that during the first nine months of 2020, the company's net profits rose to AED 49.28 million from AED 46.598 million in the year-ago period.