Abu Dhabi National Takaful Company PSC Receives Financial Strength Rating of A- (Excellent) & Long-Term Issuer Credit Rating of a- from A.M. Best
Abu Dhabi National Takaful Co. PSC (ADNTC), the leading takaful operator in the MENA region, has revealed that it has once more received a Financial Strength Ranking of 'A-' (Excellent) and a Long-Term Provider Credit Score of 'a-' from worldwide score agency A.M. Finest. The outlook for these credit ratings is stable.
The positive rankings reflect ADNTC's strong risk-adjusted capitalisation, in addition to its regularly excellent technical and operating performances as one of the most modern insurance provider in the United Arab Emirates. A.M. Best expects the company to continue succeeding offered its top quality of management, efficient underwriting controls and skilled monitoring group. The firm also prepares for ADNTC's capitalisation to stay adequately robust to sustain potential strategic initiatives.
Commenting about the major achievement, Mr. Khamis Buharoon Al Shamsi, Chairman of the Board of Directors of Abu Dhabi National Takaful Company P.S.C., stated: "A.M. Finest's confidence to declare the ratings is a recommendation to our regularly outstanding efficiency. We continuously grow stronger as evidenced by our results for the initial fifty percent of 2017. Led by a highly-skilled management group and specialized personnel, we are hopeful that 2017 will certainly be an additional impressive year for the company."
Mr. Osama Abdel-Raouf Abdeen, President 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. Finest affirms the success of our overall technique and business model that is geared towards serving the demands of the takaful market. They are additionally testimonies not only to our continuous phenomenal economic efficiency over the years, however likewise to our efficient enterprise danger management, operational effectiveness, disciplined underwriting, and sensible financial investment policy. The effective implementation of our strategies, item offerings and premium services constitute a solid structure for our company to proceed in its journey of success. ADNTC will continue to maintain its industry leadership and provide on its assurance of unparalleled quality and solution shipment by surpassing the expectations of its investors, business partners and loyal customers.
ADNTC has an outstanding performance history of technological and web productivity. It maintained the momentum of its solid Q1 2017 performance by achieving a combined web profit of AED 40.9 million (Policyholders & Shareholders before release of Qard Hasan) and an underwriting earnings of AED 34.1 million at end of Q2 2017. The mixed net earnings for the first half of 2017 raised by 35 per cent from in 2014's AED 30.3 million, while the underwriting earnings went beyond 2016's AED 22.8 million by 50 per cent.
