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UAE - ADNIC reports 19.1% growth in net profit in Q2

Saturday, 08 03 2019, 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, today announced its financial results for the period ending 30 June 2019. The company reported a net profit of AED 66.0 million for the second quarter of 2019, an increase of 19.1% on the same period in 2018.

Commenting on ADNIC’s performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “ADNIC has delivered 29.5% growth in gross written premium during the first half of 2019 and 19.1% growth in net profit during the period April to June 2019. As we move into the second half of 2019, the company will remain firmly focused on maintaining robust foundations to drive long-term sustainable growth and maximise value for shareholders, while increasing customer satisfaction and retention.”

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.

Ahmad Idris, CEO of ADNIC, said: “The company’s performance is testament to the strength of our customer service proposition, technical excellence, product and service innovation and commitment to the community. Moving forward, we will continue to focus on achieving our strategic targets, including investing in new products and service innovations to create additional value for customers and shareholders.”

Source: MENA Herald
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