Abu Dhabi – Mubasher: S&P Global Ratings has upgraded the credit rating of Abu Dhabi National Insurance Company (ADNIC) from 'A-' to 'A', with a stable outlook.
Upgrading the company's credit ratings reflects the outstanding performance in terms of underwriting and the success in maintaining the market share over the past five years, according to a recent press release.
The stable outlook shows that ADNIC’s capital adequacy stayed above the 'AAA' level as per their model.
It is noteworthy to mention that in 2020, the net profits of ADNIC hiked by 30.5% to AED 370.996 million from AED 284.25 million in 2019.
