AM Best : Affirms Credit Ratings of Dubai Insurance Company (PSC)
05/13/2021 | 09:36am EDT
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AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Dubai Insurance Company (PSC) (DIC) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect DIC’s balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management.
DIC’s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), supported by strong organic capital generation. The assessment also factors in the company’s sufficient liquidity and prudent reserving, which incorporates buffers over the actuarial best estimate. An offsetting factor in the balance sheet st
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The ratings reflect PHP’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. In addition, the ratings factor in a neutral impact from the company’s ultimate ownership by the New Zealand Police Association (NZPA).
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