A M Best affirms ‘A Excellent' rating

Posted on Aug 24, 2016

AM Best has reaffirmed an A Excellent rating for Oman Insurance Company following a recent review. The continued stable outlook reflects the view that the company has maintained a strong risk-adjusted capitalization and leading position within the United Arab Emirates.

According to the rating agency “Oman Insurance Company’s stable and diversified risk profile is adequately supported by a strong capital base of AED 1,883 million. The company actively manages its capital requirements as evidenced by its track record of de-risking its investment portfolio to focus on its core underwriting strategies. Furthermore, its strong balance sheet strength is supported by excellent risk-adjusted capitalization, a very low level of borrowing and excellent liquidity.”

Oman Insurance Company has maintained its leading local position within the UAE with a well-diversified portfolio across both life and non-life business segments and demonstrated an improvement in its underwriting performance for the first half of 2016.The company continues to strengthen its business, constantly building on effective management and corporate governance practices.

Christos Adamantiadis, Chief Executive Office of Oman Insurance Company said “We are pleased that AM Best has reaffirmed our ‘A Excellent’ rating. We have recently implemented key strategic initiatives to constantly outperform, lead through service and empower customers that have proved valuable in delivering an exceptional customer experience and in retaining our leading position in the United Arab Emirates.”

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