AM Best upgrades Dubai Insurance Company's rating

AM Best has upgraded the Financial Strength Rating of Dubai Insurance Company (DIN) from A- to A and the Long-Term Issuer Credit Rating from “a-” to “a”of The outlook has been revised from positive to stable.

This decision reflects the continuous improvement of the company's business profile through product diversification and good profitability.

The rating also reflects DNI's strong balance sheet, good operating performance and appropriate enterprise risk management.

In 2023, the Emirati insurer recorded a strong 91% growth in gross written premiums to 2.8 billion AED (762.3 million USD ). The combined ratio, under IFRS 17 standard, stood at 87.9% by the end of 2023