Dubai – Mubasher: AM Best has affirmed the financial strength and long-term issuer credit ratings of Dubai National Insurance and Reinsurance (DNIR) at 'B++' and 'bbb+', respectively, with a positive outlook.
The ratings are based on AM Best's assessment of the company's balance sheet as very strong, alongside its strong operating performance, limited business profile, and appropriate enterprise risk management, according to a press release on Monday.
Meanwhile, the positive outlook shows that the company's strong balance sheet is expected to continue over the medium term, driven by the normalisation of dividend payments which de-risks the investment portfolio.
It is noteworthy to mention that during the first nine months of 2021, the company's net profits decreased to AED 43.643 million from AED 49.276 million in the year-ago period.
