AM Best affirms Dubai Insurance Company's rating

AM Best has affirmed Dubai Insurance Company's (DIN) “A” (Excellent) financial strength and “a” (Excellent) long-term credit ratings. The outlook remains stable.

The rating recognizes the Emirati insurer's strong balance sheet, good operating performance, neutral business profile and appropriate enterprise risk management.

In 2024, DIN's combined ratio (IFRS 17) of 93.2% was higher than in 2023. This increase was primarily driven by challenges in the company’s motor portfolio, which was significantly affected by the Dubai floods and ongoing market pressures.