Dubai, UAE:  Dubai National Insurance (DNI), one of the leading insurance companies in UAE, has received a stable outlook for its Financial Strength and Long-Term Issuer Credit Ratings. Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent). AM Best has reaffirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of “a-” (Excellent). These ratings reflect DNI’s strong balance sheet strength, solid operating performance and effective enterprise risk management.

Mr. A.R. Srinivasan, Chief Executive Officer of Dubai National Insurance (DNI), said: "We are immensely proud of AM Best’s affirmation of our exceptional ratings, highlighting our unwavering commitment to financial strength, operational excellence, and strategic growth. At DNI, we remain dedicated to delivering outstanding value to our stakeholders, navigating dynamic market conditions with resilience and innovation, and maintaining integrity in the highly competitive UAE general insurance market. We continue to focus on digitalization and customer service excellence to drive growth.

DNI’s balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), which has been supported by good earnings retention in recent years. The assessment considers DNI’s strong liquidity position and prudent reserving approach. The credit risk is partially mitigated by using a panel of international reinsurers with excellent financial strength.

The exceptional figures serve as a demonstration of DNI’s strong operating performance. In 2023, under IFRS 17, the company achieved a return on equity of 6.7% and a net combined ratio of 94.1%, as calculated by AM Best. Despite the intense competition in the UAE insurance market, AM Best expects DNI's cross-cycle operating performance to remain robust, bolstered by its rigorous underwriting practices and prudent risk selection. DNI is recognised as a strong mid-tier insurer in the highly competitive UAE general insurance market, reporting insurance service revenue of AED 448 million (USD 122 million) in 2023.

About DNI

One of the leading Insurance Companies in UAE, Dubai National Insurance (DNI), has been operating since 1991 with a branch in Abu Dhabi. They are a multiline insurer with products spanning across Motor, Medical, Travel, Home and various other commercial insurances like Group Medical, Group Life, Engineering, Marine, Property and Liability. Their expert team of insurance and reinsurance professionals will provide the best insurance policies at competitive rates in comparison to industry peers. Their hassle-free claims services will enhance their customer relationships.

DNI puts customer experience, innovation, financial stability, and value creation on their priority list with the approach to design tailored solutions based on a comprehensive understanding of customers and protection needs.

DNI has engaged in broadening its distribution platforms and entered strategic partnerships for underwriting growth.

Website: www.dni.ae