Moody's assigns Dubai Insurance 'A3' rating; outlook stable

The rating reflects the company's good market position and brand

  
Dubai – Mubasher: Moody's Investors Service (Moody's) has assigned an 'A3' insurance financial strength rating (IFSR) to Dubai Insurance Company, with a stable outlook.

The rating reflects the company's good market position and brand, strong capital adequacy, strong profitability with a five-year average return on capital, and strong reserve adequacy, according to a recent press release.

As for the stable rating outlook, Moody's expected that DIN will expand its business while maintaining underwriting discipline and strong capital adequacy.

It is noteworthy to mention that during the first nine months of 2021, the unaudited consolidated interim financials of Dubai Insurance Company reported AED 58.81 million net profits, up from AED 49.17 million in the same period of 2020.

Source: Mubasher

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