22 Oct 2020
DUBAI: S&P Global assigned its “gc A+” Gulf Cooperation Council regional scale financial strength rating to Al Sagr National Insurance Co.
Director & GM of Al Sagr Abdel Muhsen Jaber said that this rating comes as a result of the management adoption of the best polices and practice in the insurance filed. Abdel Muhsen continues that despite the weak economic situation Al Sagr was able through its emergency plan to increase its revenue during the first half of the year and generate underwriting profie.
Further, S&P assigned to Al Sagr Stable outlook reflecting its expectation that Asnic will continue to generate profitable underwriting results, maintain capital adequacy and have no significant governance – related issue over the next 12 months.
Al Sagr has over 30 years’ experience in Medical insurance. Licensed by all Health Regulators in the UAE, Al Sagr provides an exceptional experience and market-leading service level for clients through a wide range. of products for individuals, families, SME (Small & Medium Enterprise) and corporate groups. Property Insurance helps to safeguard the insured’s properties such as buildings, equipment, Stock (Raw Material & Finished Goods), inventory, and even customers’ property under care, control and custody in case it’s lost or damaged due to a number of causes (on all risks basis other than those specifically excluded or on named perils basis).
Business Bureau, Gulf Today