ADNIC Net Profit Up 25% at Dhs181 million
20 Mar 2014
Abu Dhabi National Insurance Company’s (ADNIC) net profit for the year 2013 reached Dhs181 million as compared to Dhs145 million in 2012 with a growth of 25 per cent.
Total comprehensive income for year 2013 was Ds350 million as compared to Dhs202 million in year 2012, which reflects a strong growth of 73 per cent.
Abu Dhabi National Insurance Company presented the forty first audited Directors’ Report and Financial Statements for the year ended Dec.31, 2013. Adnic has grown its asset base to Dhs4.8 billion while maintaining solid levels of profitability, liquidity and capitalisation.
Both operationally and financially, global agencies have reconfirmed Adnic’s strategic plans and business practices, with its ISO 9000 recertification, and its financial ratings with Standard and Poor’s A- Strong rating as well as AM Best’s A Excellent rating.
Adnic remains in an elite group of financial services institutions in the Middle East and North Africa region, which have maintained their financial ratings in the A category.
The Board of Directors remains supportive of the management’s plans to continue expanding Adnic’s footprint within the UAE and Mena region.
* Resource: Gulf Today Newspaper
