Latest news with #AbuDhabiNationalInsuranceCompany
Al Etihad
12-08-2025
- Business
- Al Etihad
ADNIC posts Dh261.2 million profit before tax in H1 2025
12 Aug 2025 20:07 ABU DHABI (ALETIHAD) Abu Dhabi National Insurance Company (ADNIC) reported a net profit before tax of Dh261.2 million in the first half of 2025, reflecting an increase of 16.5% compared to the same period in company also recorded gross written premiums of Dh5.54 billion, marking a 25.7% year-on-year insurer maintained a combined ratio of 92.9%, underscoring the strength of its underwriting strategy and operational insurance revenue for the period reached Dh4 billion, up from Dh3.3 billion in the first half of last year, while net insurance service result climbed 26.5% to Dh258.5 income stood at Dh142.4 million, a 19.5% increase over the prior year. Profit after tax came in at Dh235.3 of June 30, 2025, total assets stood at Dh11 billion, with total shareholders' equity at Dh3.5 Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: 'ADNIC's strong performance in the first half of 2025 demonstrates the resilience of our business model and the effectiveness of our long-term strategy. We have continued to grow across our core businesses, supported by robust underwriting discipline and prudent investments."Our focus remains on delivering sustainable value to our shareholders while supporting the UAE's broader economic vision and reinforcing our role as a key enabler of growth in the insurance sector.'Charalampos Mylonas, Chief Executive Officer of ADNIC, added: 'We are pleased to announce a strong set of results in the first half of 2025. Our strong capital position, combined with disciplined cost management and forward-looking innovation initiatives, enables us to adapt to evolving market conditions and seize new opportunities. We remain committed to creating long-term value for our stakeholders and advancing our role as one of the leading insurance providers in the region.' During the period, ADNIC partnered with the Sheikh Zayed Housing Programme to offer specialised life insurance solutions to eligible UAE nationals, and continued to invest in the safe and responsible integration of artificial intelligence across its operations to enhance efficiency and customer experience. Source: Aletihad - Abu Dhabi
Zawya
12-08-2025
- Business
- Zawya
ADNIC reports strong H1 2025 performance with net profit before tax of AED 261.2mln
Abu Dhabi, UAE: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, has delivered strong financial results for the first half of 2025. This performance was driven by solid contributions across all core segments, reflecting the successful execution of the company's strategy. ADNIC reported a net profit before tax of AED 261.2 million, reflecting an increase of 16.5% compared to the same period in 2024. The company also recorded gross written premiums of AED 5,539.6 million, marking a 25.7% increase year on year. ADNIC maintained a combined ratio of 92.9%, underscoring the strength of its underwriting strategy and operational efficiency. In H1 2025, ADNIC partnered with the Sheikh Zayed Housing Programme (SZHP) to offer specialised life insurance solutions to eligible UAE Nationals, reinforcing its commitment to national priorities and community well-being. In parallel, and in line with the UAE's vision for a competitive, innovation-driven economy, ADNIC has continued to invest in the safe and responsible integration of artificial intelligence across its value chain to improve operational efficiency and enhance customer experience. Commenting on ADNIC's performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: 'ADNIC's strong performance in the first half of 2025 demonstrates the resilience of our business model and the effectiveness of our long‑term strategy. We have continued to grow across our core businesses, supported by robust underwriting discipline and prudent investments. Our focus remains on delivering sustainable value to our shareholders while supporting the UAE's broader economic vision and reinforcing our role as a key enabler of growth in the insurance sector.' Charalampos Mylonas, Chief Executive Officer of ADNIC, said: 'We are pleased to announce a strong set of results in the first half of 2025. Our strong capital position, combined with disciplined cost management and forward‑looking innovation initiatives, enables us to adapt to evolving market conditions and seize new opportunities. We remain committed to creating long‑term value for our stakeholders and advancing our role as one of the leading insurance providers in the region.' Key financial highlights: Total Insurance Revenue: For H1 2025, ADNIC's total insurance revenue reached AED 4.0 billion, compared to AED 3.3 billion in the same period last year. Net Insurance Service Result: Net insurance service result reached AED 258.5 million, accelerating 26.5% year on year. Net Income from Investments: Investment income reached AED 142.4 million, up 19.5% year on year. Profit Before Tax has grown by 16.5% year on year to AED 261.2 million yielding a Profit After Tax for the period of AED 235.3 million. As of 30 June 2025, at a consolidated Group level Total Assets stood at AED 11 billion and Total Shareholders' Equity stood at AED 3.5 billion
Mid East Info
23-07-2025
- Business
- Mid East Info
ADNIC and Sheikh Zayed Housing Program sign strategic partnership to support UAE Nationals with life insurance
Abu Dhabi National Insurance Company ADNIC, one of the leading regional multi-line insurance providers for both corporates and individuals, has announced a strategic partnership with the Sheikh Zayed Housing Program (SZHP) to launch a specialised life insurance offering for eligible UAE Nationals. The partnership was formalised as part of a signing ceremony in Dubai, marking the official public launch of the program. ADNIC will manage and lead the insurance program along side other leading insurance companies in the UAE that are associated with the program. The initiative will provide life insurance coverage up to the age of 95, substantially extending beyond the market norm of 70 years old. This enables Emiratis aged up to 70 to still qualify for housing loans with a maximum tenure of 25 years, significantly enhancing financial inclusion for older borrowers. The housing loans under the Sheikh Zayed Housing Program are administered through leading local banks that have been associated with program since its inception. Commenting on this partnership, Charalampos Mylonas, Chief Executive Officer of ADNIC, said: 'As an insurer working at the very heart of the community, we understand why life insurance is so important as it guarantees families a measure of protection against the adverse financial consequences. As such, we're proud to work alongside the Sheikh Zayed Housing Program (SZHP) to give individuals a greater sense of economic security and peace of mind. At ADNIC, our commitment remains to make insurance truly about people by protecting their income, assets, health, and lives.' While the scheme is already active through the participating banks, the signing ceremony marked its official public announcement. This milestone reflects ADNIC's continued leadership in developing solutions that support national priorities and the evolving needs of citizens.
Al Etihad
14-05-2025
- Business
- Al Etihad
ADNIC records Dh133.3 million net profit before tax in Q1
14 May 2025 11:45 ABU DHABI (WAM) Abu Dhabi National Insurance Company (ADNIC) has delivered strong financial results for the first quarter of 2025. It reported a net profit before tax of Dh133.3 million, marking a 19.2 percent increase compared to the same period in 2024 as a result of strong underwriting and investment swiftly completed its integration and rebranding efforts following the successful acquisition of a 51 percent stake in Allianz Saudi Fransi Cooperative Insurance Company (ASF) in 2024. ASF now operates as Mutakamela Insurance Company, under ADNIC's strategic direction, reinforcing ADNIC's presence in Saudi Arabia and supporting the company's ambition to be a leading insurance player across the performance is fully consolidated into the Group's financial results from the effective date of the acquisition and will continue to contribute to ADNIC's long-term of ADNIC, Sheikh Mohamed bin Saif Al-Nahyan, commented on ADNIC's performance, 'ADNIC began 2025 strong, where we built upon our momentum in 2024 to achieve solid growth across our core businesses, while maintaining robust underwriting discipline. Despite ongoing macroeconomic and industry-specific challenges, the Group continues to demonstrate resilience and agility."Our recent strategic expansion efforts in Saudi Arabia continue to reflect our aspiration of becoming the leading insurance provider across the region.' Chief Executive Officer of ADNIC, Charalampos Mylonas, said, "We made the best possible start to the year, delivering strong financial results supported by resilient underwriting, cost discipline, and strategic expansion.'
Gulf Today
28-02-2025
- Business
- Gulf Today
Adnic shareholders approve cash dividends of 45 per cent
Abu Dhabi National Insurance Company (Adnic) has approved the distribution of 45 per cent cash dividends (Dhs0.45 per share, implying total cash dividends of Dhs256.5 million) for the financial year ended 31st December 2024, after concluding its Annual General Meeting (AGM). Shareholders discussed and approved all items on the agenda for the AGM, including Adnic's financial statements for the year ended December 31st, 2024. Sheikh Mohamed bin Saif Al Nahyan, Chairman of Adnic, said, 'Adnic presented yet another set of exceptional results in 2024, driven by a solid underwriting and investment performance, and our regional expansion, following the recent acquisition of Allianz Saudi Fransi, which is now rebranded to Mutakamela Insurance Company. We would like to thank our shareholders for their continued trust in our journey. The distribution of cash dividends underscores our commitment to providing consistent returns on their investments. '2024 stands as a milestone year for Adnic, where we delivered the highest ever reported total Insurance Revenue as well as overall net profit. In line with the UAE leadership declaring 2025 as the Year of Community, Adnic reiterates its commitment to providing quality insurance solutions which will contribute positively towards our society's unity, shared responsibility and overall wellbeing.' Charalampos Mylonas, CEO of Adnic, said, 'Adnic is committed to providing innovative and accessible solutions, and to driving operational growth. This is demonstrated by our solid net profit performance for the year and is further evidenced by our distribution of cash dividends. We are proud to not only provide exceptional value for our customers, but also consistent returns for our shareholders. 'Looking forward, we are focused on further enhancing our product and solutions suite, embracing technology, and reinforcing our position locally and beyond.' Meanwhile Abu Dhabi National Insurance Company (Adnic) has announced that for the six-month period ended 30th June 2024, profit before tax has grown by 10 per cent year-on-year to Dhs224.3 million, while net profit reached Dhs205.2 million. The company said, 'At a consolidated Group level, Total Assets have increased by 41 per cent to Dhs10.9 billion compared to Dhs7.7 billion as of 31st December 2023. Total Shareholders' Equity stood at Dhs3.2 billion.' Sheikh Mohamed bin Saif Al-Nahyan, Chairman of Adnic, said, 'Our accomplishments demonstrate our commitment to operational excellence and strategic foresight. Looking ahead, Adnic's strong financial foundation and skilled team position us for sustained growth and innovation, delivering value for shareholders and contributing to the regional insurance sector's development.' Total insurance revenue has grown by 54 per cent year-on-year to reach an all-time high of Dhs3.3 billion, compared to Dhs2.1 billion for the same period in 2023. Net insurance service results have grown by 15 per cent year-on-year to reach Dhs204.3 million, against Dhs178.1 million for the same period in 2023. This reflects the robustness, strong underwriting, and analytical discipline in the way Adnic business is managed and produced. Charalampos Mylonas, CEO of Adnic, said, 'Adnic has achieved a record Gross Written Premium (GWP) of Dhs4,406.0 million, which represents a surge of 47 per cent compared to the same period last year.' Abu Dhabi National Insurance Company (Adnic) has delivered a strong net profit before tax of Dhs111.8 million for the first quarter of 2024, underlining the company's robust financial performance and strategic growth initiatives. This strong performance is underpinned by Adnic's robust underwriting discipline and healthy growth in key metrics. The company's net insurance service result stood at Dhs103.2 million for the quarter, and it achieved a record Gross Written Premium (GWP) of Dhs3,031 million—a substantial growth of 49.9 per cent compared to the same period last year. Strategic asset allocation adjustments implemented in 2023 continue to pay dividends. Net income from investments for the first quarter of 2024 increased by 17.4 per cent to Dhs54.4 million, driven by higher interest and coupon income, along with mark-to-market gains. Commenting on Adnic's performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of Adnic, said, 'Adnic continues to deliver strong financial performance, reflected in our net profit before tax of Dhs111.8 million for the first quarter of 2024. We also achieved a record Gross Written Premium of Dhs3,031 million this quarter, a testament to our robust underwriting capabilities and strategic asset management. These successes reflect our dedication to operational excellence and strategic foresight, positioning Adnic for sustained growth and innovation in the insurance sector.' He added: 'Following the strong close to the first quarter, Adnic achieved a significant milestone with the successful acquisition of Allianz Saudi Fransi Cooperative Insurance Company.
