PureHealth’s Daman receives Moody’s A1 Insurance Financial Strength Rating

PureHealth has announced that its insurance arm, The National Insurance Company – Daman, has been assigned an A1 Insurance Financial Strength Rating (IFSR) by Moody’s Ratings with a stable outlook.

The A1 rating is the highest IFSR assigned by Moody’s to a UAE insurance company and the highest assigned across the GCC among life, property & casualty, and reinsurance companies, underscoring Daman’s market leadership, financial resilience, and long-term growth prospects.

The rating also reflects Daman’s resilient business model, strong capital position, disciplined risk management framework, and ability to maintain operational continuity and financial strength across varying economic and market conditions.

Shaista Asif, Group Chief Executive Officer of PureHealth, said, “Our insurance vertical, Daman, has built one of the strongest insurance franchises in the UAE, and this rating reflects the quality of the business, the consistency of its performance, and the strength of its leadership position. As PureHealth continues to build a more connected ecosystem, where we recently diversified into property and casualty insurance, Daman plays an increasingly important role providing solutions for consumers and businesses. Daman’s strong fundamentals, its use of AI and technology across its business, and sustainable growth positions it to create long-term value for members, partners, and shareholders.”

Moody’s highlighted Daman's leading market position, strong profitability, resilient capital adequacy, high-quality reinsurance support, and liquid investment portfolio among the key drivers supporting the rating. Moody’s also noted the company's growing presence in property and casualty insurance, which is expected to further enhance the diversification of earnings over time.

Khaled Ateeq Aldhaheri, Chief Executive Officer of Daman, said, “This rating reflects a precise strategy of transformation, disciplined execution, strong underwriting performance, and a relentless focus on serving our members. It also recognises the progress we have made in evolving Daman beyond a leading health insurer into a broader insurance platform. With a strong capital position and robust risk management capabilities, we are well positioned to capture new opportunities while maintaining the financial strength and stability our stakeholders expect.”

The rating builds on Daman’s strong operational and financial momentum. In Q1 2026, PureHealth’s insurance business generated AED2 billion in revenue and AED3.8 billion in gross written premiums, while expanding its insured member base to 3.4 million and reporting a net profit of AED185 million.