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Sukoon Insurance today announced that S&P Global Ratings has reaffirmed its ‘A’ issuer credit and insurer financial strength ratings, along with a stable outlook. The reaffirmation also extends to its subsidiary, Sukoon Takaful. This rating underscores Sukoon’s unwavering financial resilience, robust risk management, and strategic growth trajectory in a complex macroeconomic environment.
In its latest report, S&P highlighted Sukoon’s exceptional financial risk profile, noting that the insurer continues to enjoy risk-based capital adequacy with a material buffer. Despite ongoing regional geopolitical tensions, S&P anticipates these events will have a limited impact on Sukoon’s operating performance. This resilience is driven by the company’s prudent underwriting practices and highly effective reinsurance protections.
“This reaffirmation from S&P is a testament to our steadfast commitment to financial excellence and strategic foresight,” said Hammad Khan, Interim CEO of Sukoon Insurance. “In an era of global volatility, our top priority is providing absolute security to our clients and partners. Our exceptional liquidity and capital buffers, combined with our successful diversification strategies, position us to not only navigate challenges but to consistently outperform and redefine the insurance landscape in the UAE.”
S&P also recognised Sukoon’s successful diversification efforts across life, pensions, and savings. The strategic launches of innovative products like Go Saver in the DIFC and the unit-linked investment product, Purple Investment, are expected to make a focused contribution to the company’s business in the short-to-medium term.