Latest news with #DIN
Business Standard
4 days ago
- Business
- Business Standard
Inox India secures approval of Heineken and ABinBev for manufacturing beverage kegs
Inox India announced that it has received approvals from two of the world's largest brewery brands Heineken and ABinBev - for its stainless-steel beverage kegs manufacturing at its Savli Plant in Gujarat. This milestone, coming a few Quarters after the Company's entry into the keg manufacturing space, in September 2023, marks a significant endorsement of INOXCVA's capabilities in quality, scale, and global compliance, as well as its unmatched expertise of more than 3 decades of handling stainless steel and welding know-how. INOXCVA's success in securing these approvals is a testament to a newly established plant with significant built-in capacity, and adherence to globally recognized quality standards, including ISO 9001, ISO 14001 and FSSC 22000. The audit processes were rigorous, requiring several weeks of preparation and entailing detailed on-ground evaluations across manufacturing protocols, cleanliness, staff expertise, traceability, QA systems, and testing infrastructure. The approvals have now paved the way for commercial engagements with these global beverage leaders. Further to these approvals, INOXCVA aims to emerge as a preferred supplier based on its competitive pricing & proximity to key markets, duly complemented by a strong intent towards building long-term relationships. Commenting on the achievement, Deepak Acharya, CEO INOX India Ltd, said, These approvals from two of the world's leading breweries mark a defining moment in our journey into the beverage keg space. It validates our belief in our manufacturing prowess and reinforces our position as a credible, high-quality, and future-ready partner for the global beverage industry. We are confident that this milestone will pave the way for deeper collaborations and wider global market access in the years ahead. Investments have also been made in tooling and customization capabilities such as embossing and engraving to meet the branding requirements of global customers. With such wherewithal, we aim to strengthen our capabilities and take them notches above, while ensuring that specific customer needs across the globe are addressed. We are confident of receiving approvals from more brewing majors in the due course of time INOXCVA offers a wide range of stainless-steel beverage kegs in EURO, DIN, SLIM, and USA standard (BBL) formats, from 10L to 60L, suitable for beer, wine, cider, juice, kombucha, coffee, and more. Options include stackable/non-stackable designs, various spears and necks, enhanced ring thickness, and 100% leak testing. The sustainable PSP Kegs (15L20L), made with recycled stainless steel and polypropylene, are lightweight, stackable, and customizable. Cornelius (Corny) Kegs, ideal for homebrewing, come in 2.55-gallon variants with hygiene certification and design flexibility. Logo embossing, silk-printing, and RFID tagging are also available.
Yahoo
20-05-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of Dubai Insurance Company (PSC)
LONDON, May 20, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Dubai Insurance Company (PSC) (DIN) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect DIN's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. DIN's balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), which has been supported by strong organic capital generation historically. The assessment factors in the company's sufficient liquidity and history of prudent reserving. An offsetting factor in the balance sheet strength assessment is DIN's high reinsurance dependence. The associated counterparty credit risk is mitigated partially by the use of a panel of financially sound reinsurance partners. The assessment also considers the material share of equity holdings in DIN's investment portfolio and its exposure to fair value fluctuations, which introduces the potential for volatility in capital and surplus. DIN has a track record of strong operating performance supported by robust underwriting results and steady investment income. In 2024, under IFRS 17, the company generated a net-net combined ratio of 93.2% (as calculated by AM Best), which was higher than in the prior year. The increase in combined ratio is driven primarily by the company's motor portfolio, which was impacted by the unprecedented rains in 2024 and challenging market conditions. The earnings of the Workers Protection Plan (WPP) and the Involuntary Loss of Employment (ILOE) products continued to make a material contribution to the company's technical results, due to low loss experience and significant inward reinsurance commissions. In recent years, DIN has enhanced its market position in a highly competitive market without compromising technical profitability. The successful roll out of the consortium managed products, which include the WPP and ILOE, has diversified DIN's business mix, which historically was concentrated primarily in motor and medical segments in line with other domestic insurers, and has consequently assisted DIN in materially growing its topline. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Saad Abbasi Financial Analyst +44 20 7397 0316 Jessica Botelho-Young, CA Director, Analytics +44 20 7397 0310 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of Dubai Insurance Company (PSC)
LONDON, May 20, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Dubai Insurance Company (PSC) (DIN) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect DIN's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. DIN's balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), which has been supported by strong organic capital generation historically. The assessment factors in the company's sufficient liquidity and history of prudent reserving. An offsetting factor in the balance sheet strength assessment is DIN's high reinsurance dependence. The associated counterparty credit risk is mitigated partially by the use of a panel of financially sound reinsurance partners. The assessment also considers the material share of equity holdings in DIN's investment portfolio and its exposure to fair value fluctuations, which introduces the potential for volatility in capital and surplus. DIN has a track record of strong operating performance supported by robust underwriting results and steady investment income. In 2024, under IFRS 17, the company generated a net-net combined ratio of 93.2% (as calculated by AM Best), which was higher than in the prior year. The increase in combined ratio is driven primarily by the company's motor portfolio, which was impacted by the unprecedented rains in 2024 and challenging market conditions. The earnings of the Workers Protection Plan (WPP) and the Involuntary Loss of Employment (ILOE) products continued to make a material contribution to the company's technical results, due to low loss experience and significant inward reinsurance commissions. In recent years, DIN has enhanced its market position in a highly competitive market without compromising technical profitability. The successful roll out of the consortium managed products, which include the WPP and ILOE, has diversified DIN's business mix, which historically was concentrated primarily in motor and medical segments in line with other domestic insurers, and has consequently assisted DIN in materially growing its topline. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Saad Abbasi Financial Analyst +44 20 7397 0316 Jessica Botelho-Young, CA Director, Analytics +44 20 7397 0310 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
20-05-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of Dubai Insurance Company (PSC)
LONDON, May 20, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of "a" (Excellent) of Dubai Insurance Company (PSC) (DIN) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect DIN's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. DIN's balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), which has been supported by strong organic capital generation historically. The assessment factors in the company's sufficient liquidity and history of prudent reserving. An offsetting factor in the balance sheet strength assessment is DIN's high reinsurance dependence. The associated counterparty credit risk is mitigated partially by the use of a panel of financially sound reinsurance partners. The assessment also considers the material share of equity holdings in DIN's investment portfolio and its exposure to fair value fluctuations, which introduces the potential for volatility in capital and surplus. DIN has a track record of strong operating performance supported by robust underwriting results and steady investment income. In 2024, under IFRS 17, the company generated a net-net combined ratio of 93.2% (as calculated by AM Best), which was higher than in the prior year. The increase in combined ratio is driven primarily by the company's motor portfolio, which was impacted by the unprecedented rains in 2024 and challenging market conditions. The earnings of the Workers Protection Plan (WPP) and the Involuntary Loss of Employment (ILOE) products continued to make a material contribution to the company's technical results, due to low loss experience and significant inward reinsurance commissions. In recent years, DIN has enhanced its market position in a highly competitive market without compromising technical profitability. The successful roll out of the consortium managed products, which include the WPP and ILOE, has diversified DIN's business mix, which historically was concentrated primarily in motor and medical segments in line with other domestic insurers, and has consequently assisted DIN in materially growing its topline. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Saad Abbasi Financial Analyst +44 20 7397 0316 Jessica Botelho-Young, CA Director, Analytics +44 20 7397 0310 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Business Wire
20-05-2025
- Business
- Business Wire
AM Best Affirms Credit Ratings of Dubai Insurance Company (PSC)
LONDON--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of 'a' (Excellent) of Dubai Insurance Company (PSC) (DIN) (United Arab Emirates). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect DIN's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management. DIN's balance sheet strength is underpinned by its risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), which has been supported by strong organic capital generation historically. The assessment factors in the company's sufficient liquidity and history of prudent reserving. An offsetting factor in the balance sheet strength assessment is DIN's high reinsurance dependence. The associated counterparty credit risk is mitigated partially by the use of a panel of financially sound reinsurance partners. The assessment also considers the material share of equity holdings in DIN's investment portfolio and its exposure to fair value fluctuations, which introduces the potential for volatility in capital and surplus. DIN has a track record of strong operating performance supported by robust underwriting results and steady investment income. In 2024, under IFRS 17, the company generated a net-net combined ratio of 93.2% (as calculated by AM Best), which was higher than in the prior year. The increase in combined ratio is driven primarily by the company's motor portfolio, which was impacted by the unprecedented rains in 2024 and challenging market conditions. The earnings of the Workers Protection Plan (WPP) and the Involuntary Loss of Employment (ILOE) products continued to make a material contribution to the company's technical results, due to low loss experience and significant inward reinsurance commissions. In recent years, DIN has enhanced its market position in a highly competitive market without compromising technical profitability. The successful roll out of the consortium managed products, which include the WPP and ILOE, has diversified DIN's business mix, which historically was concentrated primarily in motor and medical segments in line with other domestic insurers, and has consequently assisted DIN in materially growing its topline. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
