• May 20, 2018
    Last updated 6 minutes ago

insurance

Adnic reports Dh178.5m nine-month profit

Net investment income and other income rose by 23% to Dh88.2m

Staff Report
18:51 November 1, 2017

Abu Dhabi: Abu Dhabi National Insurance Company (Adnic) on Wednesday reported a net profit of Dh178.5 million for the first nine months of 2017, an increase of 24 per cent over the same period last year.

For the nine-month period ended September 30, 2017, Adnic’s gross written premium increased by 12.5 per cent to Dh1.98 billion, compared to Dh1.76 billion for the same period in 2016.

Adnic also said net investment income and other income rose by 23 per cent to Dh88.2 million during the period while the group’s total assets grew by 4.3 per cent to Dh6.77 billion.

“Our resilient business model and operating strategy have led to strong growth in both technical and net profits. We remain one of the market leaders in terms of financial strength, which will support Adnic’s strategy to continue investing in digitalisation and customer service enhancement,” said Ahmad Idris, CEO of Adnic.