Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Others)
Filter PR by
  
Abu Dhabi National Takaful Company PSC receives financial strength rating of ‘A-' (Excellent) & long-term issuer credit rating of ‘a-' from A.M. Best
 

UAE, September 13, 2017- Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region, has announced that it has once again received a Financial Strength Rating of ‘A-’ (Excellent) and a Long-Term Issuer Credit Rating of ‘a-’ from international rating agency A.M. Best. The outlook for these credit ratings is stable.

The positive ratings reflect ADNTC’s strong risk-adjusted capitalisation, in addition to its consistently excellent technical and operating performances as one of the most progressive insurance companies in the United Arab Emirates. A.M. Best expects the company to continue excelling given its high quality of leadership, effective underwriting controls and experienced management team. The agency also anticipates ADNTC’s capitalisation to remain sufficiently robust to support prospective strategic initiatives.

Commenting on the major accomplishment, Mr. Khamis Buharoon Al Shamsi, Chairman of the Board of Directors of Abu Dhabi National Takaful Company P.S.C., said: “A.M. Best’s confidence to reaffirm the ratings is an endorsement to our consistently outstanding performance. We continue to grow stronger as evidenced by our results for the first half of 2017. Led by a highly-skilled management team and dedicated staff, we are optimistic that 2017 will be another remarkable year for the company.”

Mr. Osama Abdel-Raouf Abdeen, Chief Executive Officer of Abu Dhabi National Takaful Company P.S.C., added: “The Financial Strength Rating of ‘A-’ (Excellent) and the Long-Term Issuer Credit Rating of ‘a-’ from A.M. Best affirms the success of our overall strategy and business model that is geared towards serving the needs of the takaful market. They are also testaments not only to our continuous exceptional financial performance over the years, but also to our effective enterprise risk management, operational efficiency, disciplined underwriting, and prudent investment policy. The effective execution of our strategies, product offerings and superior services constitute a solid foundation for our company to proceed in its journey of success. ADNTC will continue to maintain its industry leadership and deliver on its promise of unparalleled quality and service delivery by exceeding the expectations of its shareholders, business partners and loyal customers.”

ADNTC has an exceptional track record of technical and net profitability. It kept the momentum of its strong Q1 2017 performance by achieving a combined net profit of AED 40.9 million (Policyholders & Shareholders before release of Qard Hasan) and an underwriting profit of AED 34.1 million at end of Q2 2017. The combined net profit for the first half of 2017 increased by 35 per cent from last year’s AED 30.3 million, while the underwriting profit surpassed 2016’s AED 22.8 million by 50 per cent.

Posted by : Dubai PR Network Editorial Team
Viewed 1476 times
PR Category : Others
Posted on : Wednesday, September 13, 2017  2:28:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Archinnova to fully automate Mohammed Bin Rashid Housing Est...
Next Story : Smart Dubai to be Key 1 Sponsor of UNLOCK Forum on Blockchai...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Max Mara: Iconic Coats - Manuela & Teddy. [12670-Views]
Marina Rinaldi : Ashley Graham continues her role as the face of the brand for the Fall/W... [11492-Views]
Weekend Max Mara : The Pasticcino Bag - Fall/Winter 2017 [10315-Views]
Huawei CBG supports the Middle East Innovation Agenda by bringing cutting-edge innovative ... [9766-Views]
LG Robots to Connect People for A Better Tomorrow [9668-Views]
SAINT HONORE Charisma “Twist” for elegant lady [8570-Views]
Vacheron Constantin Pays Tribute to the Middle East with Exclusive Overseas Timepieces [7174-Views]
Exhilarating new Roger Dubuis pop-up boutique in the US [7003-Views]
TAG Heuer's Globetrotter Exhibition Opens in Dubai Mall on September 15, As Part of an Amb... [6960-Views]
Michael Kors Collection Spring 2018 Fashion Show [6765-Views]
Malabar Gold & Diamonds recognized as the ‘Superbrand' 5th time in a row by Superbrands Co... [6246-Views]
Kate Upton, Ashley Graham, Andreea Diaconu, Skai Jackson and more in Michael Kors to a Par... [6216-Views]
NMC Healthcare wins ‘Brand of the Year 2017' by Superbrands [6082-Views]
MICHAEL Michael Kors Fall 2017 Nouveau Novelty Bags [6021-Views]
Dubai Culture Takes ‘Dubai Next' to London Design Festival [6015-Views]
New Balance Introduces the 574 Sport in Celebration of the Dubai Mall Store Opening [5990-Views]
Glittering beauty set with diamonds - a true Gilda beauty [5728-Views]
Introducing Malibu C and its Packets of Purity [5600-Views]
A gift of beauty for new moms and moms-to-be [5508-Views]
DeLaCour Reflect Tourbillon [5496-Views]
Introducing the GUESS Jeans Fall 2017 Advertising Campaign [5057-Views]
ZENITH DEFY LAB [4953-Views]
The Academic Arrangement Between Wise Indian Academy and Bhavans [4923-Views]
IPhone 8 and IPhone 8 Plus to Arrive at DU on September 23 [4856-Views]
BCG Report Reveals the Six Imperatives to Empower Women Leaders of Tomorrow in the UAE [4544-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories