ADNIC reports DH282.8 Mn net profit in 9m 2020
Friday, 11 06 2020, Category: Insurance and Reinsurance, Country: U.A.E
Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, reported its financial results for the nine-month period ended 30 September 2020 today.
Commenting on ADNIC’s performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “In a year full of uncertainty, our strategic actions have enabled us to deliver resilient results as we recorded a net profit of AED 282.8 million, a 45.5% increase compared to the same period last year. We also won several significant accounts which helped propel the business forward and we continued to accelerate our digital initiatives across the company. Looking at the remainder of the year, we will continue to respond to the increasing digital-first mindset of retail and SME customers through ongoing product and service innovation.”
He added: “On behalf of the Board of Directors, I would like to extend our sincere gratitude to His Highness Sheikh Khalifa Bin Zayed Al Nahyan, President of the UAE, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, and His Highness Sheikh Mohamed Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for their continued support. I would also like to thank our clients, partners and shareholders for the continuous trust and confidence they have placed in ADNIC during this challenging period. As one of the leading UAE insurance companies, we will continue to build on our expertise to deliver new innovative solutions and give back to our community throughout the remainder of the year and beyond.”