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AM Best assigns ADNIC 'A' ratings; outlook stable

AM Best assigns ADNIC 'A' ratings; outlook stable
The ratings reflect ADNIC's underlying financial strength
ADNIC
ADNIC
1.36% 5.98 0.08

Abu Dhabi – Mubasher: AM Best has assigned Abu Dhabi National Insurance Company (ADNIC) a financial strength rating of 'A' and a long-term issuer credit rating of 'a', with a stable outlook.

The ratings reflect ADNIC's underlying financial strength and strong performance across operations during the first half (H1) of 2021, according to a bourse filing on Sunday.

It is noteworthy to mention that in H1-21, the consolidated interim financials of ADNIC showed net profits of AED 248.661 million, up 31.1% from AED 189.677 million in the year-ago period.