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Orient Insurance And Subsidiaries ‘A+’ Ratings Affirmed On Revised Capital Model Criteria; Outlook Stable – S&P Global Ratings
(MENAFN- Orient Planet Group) May 31, 2024
The Company Maintains ‘A+' Rating, Reinforcing Commitment to Stakeholders and Community.
S&P Global Ratings affirmed this month its ‘A+’ long-term issuer credit and insurer financial strength ratings on UAE-based Orient Insurance P.J.S.C. (Orient) and its subsidiaries, Orient Takaful PJSC (UAE ) and Orient Takaful Insurance Company ( S.A.E , EGYPT ), with a stable outlook, consolidating its position as UAE’s largest insurer by insurance revenue.
The A+ rating affirmation by S&P Global reflects Orient Insurance's solid capitalization, prudent underwriting practices, and strong reinsurance partnerships. These factors collectively contribute to the company's ability to meet policyholder obligations and sustain growth in a competitive market.
Mr. Omer Elamin, President, Orient Group, commented, “The 'A+' rating affirmation underscores our commitment to stakeholders and the communities that we serve. I would like to extend my sincere gratitude to our team for their steadfast commitment and pursuit of excellence, which has enabled us to achieve this incredible feat”.
“We are confident that our collaborative spirit and exceptional range of services will bolster our standing in the UAE’s insurance segment over the coming years."
The Company Maintains ‘A+' Rating, Reinforcing Commitment to Stakeholders and Community.
S&P Global Ratings affirmed this month its ‘A+’ long-term issuer credit and insurer financial strength ratings on UAE-based Orient Insurance P.J.S.C. (Orient) and its subsidiaries, Orient Takaful PJSC (UAE ) and Orient Takaful Insurance Company ( S.A.E , EGYPT ), with a stable outlook, consolidating its position as UAE’s largest insurer by insurance revenue.
The A+ rating affirmation by S&P Global reflects Orient Insurance's solid capitalization, prudent underwriting practices, and strong reinsurance partnerships. These factors collectively contribute to the company's ability to meet policyholder obligations and sustain growth in a competitive market.
Mr. Omer Elamin, President, Orient Group, commented, “The 'A+' rating affirmation underscores our commitment to stakeholders and the communities that we serve. I would like to extend my sincere gratitude to our team for their steadfast commitment and pursuit of excellence, which has enabled us to achieve this incredible feat”.
“We are confident that our collaborative spirit and exceptional range of services will bolster our standing in the UAE’s insurance segment over the coming years."
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