ADNTC issuer rating upgraded to A-

Abu Dhabi: Abu Dhabi National Takaful Company (ADNTC), a provider of Sharia-compliant insurance products, announced that its financial strength rating was upgraded to A- from B++ and its issuer credit rating was upgraded to a- from bbb+ by rating agency, A.M. Best.

The insurance company said in a statement this was the highest rating assigned to a Takaful operator by A.M. Best.

The upgrades reflect ADNTC’s risk-adjusted capitalisation, strong technical performance, and profile as a Takaful operator in the UAE.