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Abu Dhabi National Insurance Company (Adnic), one of the leading multi-line insurance providers for businesses and individuals in the Gulf, has reaffirmed its Financial Strength Rating of A (Excellent) and its Long-Term Issuer Credit Rating of ‘a’ (Excellent), Rating agency AM Best has given a stable outlook.
The rating reflects Adnic’s balance sheet strength, as well as strong operating performance, neutral business profile and appropriate enterprise risk management.
Ahmad Idris, Chief Executive Officer, Abu Dhabi National Insurance Company (Adnic) said: “AM Best’s ratings underscore Adnic’s years of strong capital, financial flexibility and steady earnings and business growth Adnic’s disciplined underwriting approach has contributed to our consistent record double-digit return on equity. As we celebrate our 50th anniversary of operations in 2022, Adnic will continue to deliver on clear strategy, underwriting discipline, operational excellence and diversity portfolio to maintain its competitive advantage.”
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