ADNIC reports AED218.8 million net profit on first nine months of 2018

ABU DHABI, Abu Dhabi National Insurance Company, ADNIC, announced its financial results for the first nine months of the year today. ADNIC reported net profit of AED218.8 million for the period, up 22.6% compared with the same period of last year.

Commenting on the results, Sheikh Mohamed bin Saif Al-Nahyan, Chairman of ADNIC, said, “On behalf of the Board of Directors, I am pleased to report that ADNIC has delivered strong performance in the first nine months of 2018. The results stand as testament to the company’s continuous efforts to become the insurer of choice for customers, and its target to optimise return on investment for shareholders. ADNIC’s leading performance across the business is driven by a successful strategy of revenue stream diversification across different insurance segments, new product development, a clear focus on underwriting quality, and greater business efficiency.”

Ahmad Idris, CEO of ADNIC, commented, “I am pleased to report that ADNIC has delivered strong set of results for the nine-month period ended 30th September 2018, with continued growth in net profit and gross written premium. This performance is a testament to our sound underwriting discipline, and financial strength.

He added, “As we approach the end of 2018, I am confident that we will continue to build solid foundations to support our long-term sustainable growth and achieve further milestones. ADNIC’s customers are at the heart of our values, and with innovation being the foundation of our growth, we are able to create solutions that deliver value for them.”

Source: Emirates News Agency