Abu Dhabi – Mubasher: AM Best, the international credit rating agency, has maintained Insurance House's (IH) financial strength at 'B+' and long-term issuer credit rating at 'BBB-', with a stable outlook for both, for the second conscutive year.
This rating reflects the company's strong liquidity level, risk-adjusted capitalisation, strong balance sheet, and efficient operating performance, according to a press release on Monday.
Commenting on the rating, the CEO of IH, Mohammed Othman, said: "These sustained ratings showcase the company’s strong and stable financial situation, solid and sturdy advancement strategies, committed and experienced senior management team, and clear policies & procedures covering all the business’s attributes."
It is noteworthy to mention that during the first nine months of 2020, the company's net profits reached AED 8.12 million, with net premiums earned amounting to AED 114.46 million during the third quarter (Q3) of 2020.
