AM Best affirms ADNIC’s ratings

AM Best has affirmed Abu Dhabi National Insurance Company’s (ADNIC) “A” (Excellent) Financial Strength Rating and “a” (Excellent) Long-Term Issuer Credit Rating, with a stable outlook.

The ratings reflect ADNIC’s strong balance sheet, solid operating performance, neutral business profile, and appropriate business risk management.

AM Best also highlighted the insurer’s international expansion strategy, notably the opening of a branch in India and the acquisition of a 51% stake in Saudi Arabia-based Allianz Saudi Fransi, which now operates under the name Mutakamela Insurance.