AM Best confirms rating of Dubai National Insurance & Reinsurance

AM Best has confirmed the “A-” (Excellent) financial strength and “a-” long-term credit ratings of Dubai National Insurance & Reinsurance (DNI). The outlook for both ratings remains stable.

The agency's decision is based on the Emirati insurer's solid balance sheet, strong operating performance, limited commercial profile and appropriate enterprise risk management.

DNI is ranked among the top 20 insurance companies in the United Arab Emirates, with insurance revenue of 448 million AED (122 million USD) in 2023.

The net combined ratio * and return on equity (ROE) calculated by AM Best in accordance with IFRS 17 stood at 94.1% and 6.7% respectively.

* calculated using AM Best's net-net method