S&P confirms Sukoon Insurance's rating

Standard & Poor's (S&P) has affirmed the “A” issuer credit rating and “A” financial strength rating of Sukoon Insurance. The rating agency also confirmed the “A” financial strength rating for the Sukoon Takaful subsidiary. The outlook is stable.

In 2024, the company's insurance revenue grew by 16%, while net profit rose by 3.7%. During that same year, Emirati insurers were faced with an exceptional loss experience following the floods that occurred in April.