Daman Earns Moody’s Top A1 Insurance Strength Rating in UAE

ABU DHABI: PureHealth has announced that its insurance arm, The National Insurance Company – Daman, has been awarded an A1 Insurance Financial Strength Rating (IFSR) by Moody’s Ratings with a stable outlook. The rating is the highest Insurance Financial Strength Rating given by Moody’s to a UAE insurance company. It also represents the highest rating across the GCC for life, property and casualty (P&C), and reinsurance companies, highlighting Daman’s strong market position, financial stability, and long-term growth potential.

The A1 rating reflects Daman’s solid business model, strong capital base, disciplined approach to risk management, and its ability to maintain financial strength and uninterrupted operations under different economic and market conditions.

Shaista Asif, Group Chief Executive Officer of PureHealth, said Daman has built one of the strongest insurance businesses in the UAE. She stated that the Moody’s rating recognizes the company’s consistent performance, business quality, and leadership in the insurance sector.

She added that as PureHealth continues expanding its integrated healthcare ecosystem, including its recent move into property and casualty insurance, Daman is becoming increasingly important in delivering insurance solutions for both individuals and businesses. According to Asif, Daman’s strong financial foundation, use of artificial intelligence and technology, and sustainable growth strategy position the company to create long-term value for members, partners, and shareholders.

Moody’s identified several key strengths supporting the A1 rating, including Daman’s leading position in the market, strong profitability, resilient capital adequacy, high-quality reinsurance support, and a liquid investment portfolio. The ratings agency also noted that Daman’s expanding presence in the property and casualty insurance sector is expected to strengthen the diversification of its earnings over time.

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Khaled Ateeq Aldhaheri, Chief Executive Officer of Daman, said the rating reflects the company’s focused transformation strategy, disciplined execution, strong underwriting performance, and continued commitment to serving its members. He said the recognition also highlights Daman’s progress in expanding from a leading health insurer into a broader insurance platform.

Aldhaheri added that with a strong capital position and robust risk management capabilities, Daman is well prepared to seize future growth opportunities while maintaining the financial stability and strength expected by its stakeholders.

The latest Moody’s rating follows Daman’s strong operational and financial performance. During the first quarter of 2026, PureHealth’s insurance business generated AED2 billion in revenue and recorded AED3.8 billion in gross written premiums. The business also expanded its insured member base to 3.4 million and reported a net profit of AED185 million.

Separately, Daman reported a net profit of AED800 million in 2025, supported by strong underwriting performance and technical profits.