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13/02/2017 05:52 AST
Abu Dhabi National Insurance Company (Adnic) has swung into profit in 2016 after reporting a loss in the previous year, the company said in a statement. Adnic has reported a net profit of Dh205 million for 2016 compared to a net loss of Dh334.5 million for 2015.
For the year 2016, Adnic's Gross Premium Written was Dh2.38 billion compared to Dh2.29 billion in 2015. The total assets of the company increased by 15.8% to Dh6.49 billion as on December 31st 2016, compared to Dh5.60 billion during the same period last year, according to the company.
Shaikh Mohammad Bin Saif Al Nahyan, Chairman of Adnic, said: "Adnic has sustained its profitability throughout 2016 with continued strong underwriting and net profit growth for the last quarter of this year. The realignment of Adnic's operational strategy has delivered positive results and has enabled the Company to report a strong financial performance."
Gulfnews
01/11/2017
Abu Dhabi National Insurance Company (Adnic), a top multi-line insurance provider, has posted a net profit of Dh178.5 million ($47.5 million) for the first nine months of the year, an increase of 24
Trade Arabia
11/05/2017
Profit at Abu Dhabi National Insurance Company (Adnic) nearly doubled during the first quarter, even as premiums remained basically flat.
The insurer, the UAE's third-largest by gross writ
The National
28/02/2017
ADNIC has sustained its profitability throughout the year 2016 with strong underwriting results and net technical profit. Net profit increased from AED 205 million for 2016, compared to a net loss of
Press Release
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 401.00 | 0.00 (0.00 |
| FAB | 15.86 | 0.06 (0.37 |
| EMIRATESNBD | 22.60 | 0.70 (3.19 |
| ADCB | 12.30 | 0.10 (0.81 |
| ADIB | 19.10 | 0.18 (0.95 |
16/05/2025
Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE
Trade Arabia
16/05/2025
Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.
The
Muscat Daily
16/05/2025
Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.
This stat
Gulf Times
16/05/2025
Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi
Gulfnews
16/05/2025
In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental
Kuwait Times
Financial Information Co.
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