Post by : Badri Ariffin

ABU DHABI: PureHealth has revealed that its insurance division, The National Insurance Company – Daman, has attained an A1 Insurance Financial Strength Rating (IFSR) from Moody’s Ratings, boasting a stable outlook. This accolade marks the highest Insurance Financial Strength Rating awarded by Moody’s to a UAE insurer and establishes Daman as the top rated firm across the GCC for life, property and casualty (P&C), and reinsurance sectors, showcasing its robust market stance, financial soundness, and growth potential.

The A1 rating indicates Daman’s strong business framework, substantial capital reserves, methodical risk management strategies, and its capacity to uphold financial robustness and continuous operations amidst varying economic climates.

Shaista Asif, Group Chief Executive Officer of PureHealth, remarked that Daman has cultivated one of the UAE's strongest insurance brands. She highlighted that the Moody’s acknowledgement reflects the firm’s steady performance, high business standards, and preeminent role in the insurance landscape.

Asif further noted that as PureHealth expands its comprehensive healthcare ecosystem, with recent endeavors into property and casualty insurance, Daman is pivotal in offering insurance solutions to individuals and businesses alike. She emphasized that Daman’s solid financial groundwork, along with its embrace of artificial intelligence and technology, equips the company to deliver lasting value to members, partners, and stakeholders.

Moody’s pinpointed several strengths bolstering the A1 rating, such as Daman’s dominant market position, strong profitability, resilient capital adequacy, high-caliber reinsurance backing, and a liquid investment portfolio. Additionally, the ratings agency acknowledged that Daman’s growing footprint in property and casualty insurance is set to bolster its earnings diversification over time.

Khaled Ateeq Aldhaheri, Chief Executive Officer of Daman, stated that this rating underscores the company’s targeted transformation strategy, disciplined execution, robust underwriting performance, and unwavering dedication to its members. He noted that this acknowledgment also signifies Daman’s advancement from being a leading health insurer to evolving into a comprehensive insurance platform.

Aldhaheri reiterated that with a strong capital structure and effective risk management skills, Daman is primed to capitalize on forthcoming growth prospects while preserving the financial steadiness and strength anticipated by its stakeholders.

The latest Moody’s rating comes on the heels of Daman’s substantial operational and financial achievements. In the first quarter of 2026, PureHealth’s insurance sector garnered AED2 billion in revenue and reported AED3.8 billion in gross written premiums. The firm also grew its insured member base to 3.4 million and recorded a net profit of AED185 million.

Independently, Daman declared a net profit of AED800 million in 2025, fueled by solid underwriting performances and technical profits.

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