PureHealth’s Daman Earns Moody’s A1 Insurance Financial Strength Rating, Reinforcing Leadership in the UAE and GCC Insurance Market
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, marking a significant achievement for the organization and the regional insurance sector.
The rating represents the highest Insurance Financial Strength Rating currently assigned by Moody’s to any insurance company in the United Arab Emirates and also stands as the highest rating across the Gulf Cooperation Council (GCC) among life insurance, property and casualty (P&C), and reinsurance providers.
The recognition highlights Daman’s strong financial foundation, resilient operating model, disciplined risk management practices, and continued ability to deliver sustainable growth while maintaining high standards of financial stability. It also reflects the company’s evolution from a leading health insurer into a broader insurance platform that supports individuals, businesses, and healthcare ecosystems across the UAE.
Moody’s Recognizes Financial Strength and Market Leadership
The A1 Insurance Financial Strength Rating is one of the most respected measures of an insurer’s financial stability and its ability to meet policyholder obligations over the long term.
By assigning Daman an A1 rating with a stable outlook, Moody’s signaled confidence in the insurer’s financial resilience, operational performance, and capacity to navigate changing economic and market conditions.
According to Moody’s assessment, the rating reflects several key strengths, including:
- A resilient and diversified business model
- Strong capitalization
- Consistent profitability
- Effective enterprise risk management
- High-quality reinsurance protection
- Strong underwriting discipline
- A liquid and well-managed investment portfolio
- Stable operational performance across varying market environments
These factors collectively demonstrate Daman’s ability to maintain financial stability while continuing to grow its insurance operations.
Highest-Rated Insurer in the UAE
The latest rating establishes Daman as the highest-rated insurance company in the UAE according to Moody’s Insurance Financial Strength Ratings.
It also positions the company at the top of insurers across the GCC region within major insurance segments, including:
- Health insurance
- Life insurance
- Property insurance
- Casualty insurance
- Reinsurance
Receiving the highest regional rating reinforces Daman’s position as one of the Middle East’s strongest insurance organizations and reflects years of disciplined financial management and operational execution.
For policyholders, healthcare providers, corporate clients, and investors, a high financial strength rating serves as an independent assessment of an insurer’s ability to fulfill its obligations while maintaining long-term financial security.
PureHealth Continues Building an Integrated Healthcare Ecosystem
The announcement aligns with PureHealth’s broader strategy of developing an integrated healthcare ecosystem that combines healthcare delivery, insurance, diagnostics, digital health, and related services.
Within this ecosystem, Daman plays a central role by providing insurance coverage that connects patients with hospitals, clinics, physicians, and healthcare providers throughout the UAE.
In recent years, PureHealth has expanded beyond traditional healthcare operations to create a more connected healthcare network designed to improve access, efficiency, and patient outcomes.
The insurance business has become an increasingly important component of that strategy by enabling coordinated healthcare financing while supporting both consumers and business customers.
Leadership Highlights Strategic Progress
Commenting on the announcement, Shaista Asif, Group Chief Executive Officer of PureHealth, said the Moody’s rating reflects the strength of Daman’s business model and its consistent operational performance.
She noted that Daman has developed one of the strongest insurance franchises in the UAE through disciplined execution, sound leadership, and a long-term commitment to sustainable growth.
According to Asif, Daman’s role within the PureHealth ecosystem continues to expand as the organization broadens its insurance offerings beyond traditional health insurance into property and casualty insurance.
She emphasized that this diversification enables Daman to provide a wider range of insurance solutions for both individuals and businesses while strengthening the company’s long-term growth opportunities.
Asif also highlighted the importance of technology and artificial intelligence in supporting Daman’s continued evolution.
The company’s increasing use of AI-powered tools, digital technologies, and advanced operational systems is helping improve efficiency, customer experience, underwriting performance, and long-term value creation for members, business partners, and shareholders.
Moody’s Identifies Multiple Financial Strengths
Moody’s based its rating on a broad evaluation of Daman’s financial and operational performance.
Among the key factors supporting the A1 rating were the company’s:
Strong Market Position
Daman remains one of the leading insurance providers in the UAE, particularly within the health insurance market.
Its extensive customer base, established relationships with healthcare providers, and broad market presence provide a stable foundation for continued growth.
Consistent Profitability
Moody’s recognized Daman’s ability to generate sustainable earnings through disciplined underwriting and effective operational management.
Strong profitability supports capital accumulation while providing financial flexibility for future investments and business expansion.
Capital Adequacy
The agency also cited Daman’s robust capital position.
Maintaining strong capital reserves enables insurers to absorb unexpected losses, support policyholder obligations, and withstand periods of economic uncertainty.
Capital strength remains one of the most important indicators used by rating agencies when evaluating insurance companies.
Reinsurance Support
High-quality reinsurance arrangements were another positive factor identified by Moody’s.
Reinsurance allows insurers to transfer portions of their risk exposure to other financially strong institutions, helping protect against unusually large claims while improving overall financial stability.
Investment Portfolio
Moody’s also highlighted Daman’s liquid investment portfolio.
A diversified and highly liquid investment portfolio enables insurers to meet policyholder obligations efficiently while maintaining financial flexibility during changing market conditions.
Expanding Beyond Health Insurance
One of the most notable developments highlighted in Moody’s assessment is Daman’s growing presence in property and casualty (P&C) insurance.
Traditionally recognized as a health insurance leader, Daman has recently expanded into additional insurance segments as part of PureHealth’s broader strategic vision.
This diversification reduces dependence on a single business line while creating new revenue opportunities across multiple insurance markets.
Moody’s expects the expansion into property and casualty insurance to improve earnings diversification over time, contributing to greater long-term financial resilience.
A more diversified insurance portfolio can also help reduce exposure to fluctuations within individual market segments.
CEO Highlights Transformation Strategy
Khaled Ateeq Aldhaheri, Chief Executive Officer of Daman, described the Moody’s rating as validation of the company’s transformation strategy.
He noted that the recognition reflects years of disciplined execution, strong underwriting performance, and continuous efforts to improve services for members.
According to Aldhaheri, Daman has successfully evolved beyond its traditional role as a health insurer into a broader insurance platform capable of supporting a wider range of customer needs.
He emphasized that maintaining strong capital reserves, disciplined risk management practices, and operational excellence positions the company to pursue future growth opportunities while preserving the financial stability expected by policyholders and stakeholders.
Strong Financial Momentum Continues
The Moody’s rating follows a period of strong operational and financial performance for Daman and PureHealth’s insurance business.
During the first quarter of 2026, the insurance division reported:
- AED 2 billion in revenue
- AED 3.8 billion in gross written premiums
- 3.4 million insured members
- AED 185 million in net profit
These results demonstrate continued business expansion while highlighting the company’s ability to generate profitable growth across its insurance operations.
The increase in insured members also reflects sustained demand for Daman’s insurance products across both individual and corporate markets.
Building on Strong 2025 Results
The positive momentum extends beyond the most recent quarter.
During 2025, Daman reported:
- AED 800 million in net profit
The company attributed its strong annual performance to disciplined underwriting, effective pricing strategies, and solid technical profitability.
Strong underwriting results remain particularly important within the insurance industry because they demonstrate profitability generated through core insurance operations rather than investment income alone.
Maintaining underwriting discipline enables insurers to support sustainable long-term growth while preserving financial strength.
Technology Driving Operational Excellence
Technology continues to play an increasingly important role in Daman’s long-term strategy.
PureHealth highlighted Daman’s growing adoption of artificial intelligence and digital technologies across multiple business functions.
These technologies support:
- Improved underwriting accuracy
- Faster claims processing
- Enhanced fraud detection
- Better customer service
- More efficient risk assessment
- Data-driven operational decision-making
The integration of advanced technologies allows insurers to improve efficiency while delivering more personalized services to policyholders.
As digital transformation continues across the insurance sector, investments in AI and analytics are expected to become increasingly important competitive differentiators.
Positioned for Long-Term Growth
The A1 Insurance Financial Strength Rating provides external validation of Daman’s financial stability at a time when the company continues expanding both its product portfolio and market presence.
Strong capitalization, disciplined governance, profitable operations, and diversified business growth provide a solid foundation for future expansion.
Combined with PureHealth’s broader healthcare ecosystem strategy, Daman is positioned to play an increasingly important role in supporting healthcare financing, insurance innovation, and integrated care delivery throughout the UAE and the wider Gulf region.
Moody’s assignment of an A1 Insurance Financial Strength Rating with a stable outlook represents a major milestone for Daman and underscores its leadership within the UAE and GCC insurance markets. The rating reflects the company’s strong capital base, resilient business model, prudent risk management, and sustained profitability, while recognizing its successful expansion beyond health insurance into property and casualty coverage.
Supported by robust financial performance, growing membership, strategic diversification, and continued investment in artificial intelligence and digital capabilities, Daman is well positioned to pursue long-term growth while maintaining the financial strength and operational excellence expected by policyholders, partners, and investors.
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