Dubai: Standard & Poor (S&P) has upgraded Oman Insurance Company’s (OIC) following a recent review.
S&P re-affirmed the A-rating for the company. OIC’s previous outlook was rated “stable”, which was elevated to “positive”.
The positive outlook reflects S&P's expectation that the “likely diversification of OIC's risk exposure outside of the UAE could improve its competitive position”.
It added that they “expect the company's expansion strategy could help mitigate this risk over time if international operations are able to provide a sustainable competitive advantage to Oman Insurance”.
