Latest news with #MohamedbinSaifAlNahyan
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.
Zawya
28-02-2025
- Business
- Zawya
ADNIC shareholders approve cash dividends of 45% at AGM
ABU DHABI: Abu Dhabi National Insurance Company (ADNIC) has approved the distribution of 45 percent cash dividends (AED0.45 per share, implying total cash dividends of AED256.5 million) for the financial year ended 31st December 2024, after concluding its Annual General Meeting (AGM) today. Shareholders discussed and approved all items on the agenda for the AGM, including ADNIC's financial statements for the year ended 31st December 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.'
Campaign ME
21-02-2025
- Business
- Campaign ME
ES Sport rebrands, appoints H.E. Sheikh Mohamed bin Saif Al Nahyan as Chairman
Sports tourism agency ES Sport has rebranded to a new identity and has appointed H.E. Sheikh Mohamed bin Saif Al Nahyan as its chairman, to help drive sports tourism to the UAE. In line with the rebrand, the company has expanded its operations to Abu Dhabi with a new office and introduced new services including sponsorships, brand partnerships and proprietary flagship events across the UAE. Previously known as Expat Sport, the new name ES Sport, which stands for Experiences & Sponsorship in Sport, reflects the company's fast-growing, broader audience beyond expatriates and more premium hospitality offerings focused on inbound and outbound sports tourism experiences. H.E. Sheikh Mohamed bin Saif Al Nahyan will lead the agency with a fresh perspective and strategic direction, leveraging his Emirati perspective and a deeper understanding of the Abu Dhabi market. Under his leadership, ES Sport is poised to help advance the UAE agenda further, in line with the UAE Tourism Strategy 2031 and National Sports Strategy 2031. H.E. Sheikh Mohamed bin Saif Al Nahyan, Chairman of ES Sport, said, 'Sport is a powerful tool that enriches society, fostering healthier, more cohesive, and vibrant communities. At ES Sport, we are committed to supporting the UAE's national agenda by driving cultural and economic growth through sports tourism. Proud of our identity, we will integrate Emirati culture and heritage into our premium offerings to further enhance visitor experiences. He added, 'Through global events and local initiatives, we aim to boost the UAE's sports tourism ecosystem by attracting overseas visitors, creating job opportunities, and fostering partnerships – solidifying Abu Dhabi's position as an Ideal destination for international sporting events and experiences. We envision ES Sport to be recognised as the GCC's leading premium sporting experience and sponsorship agency that contributes to a thriving and dynamic future for the region.' ES Sport is an official reseller of Ethara, an entertainment and live events pioneer. By curating premium packages that integrate ticketing, hospitality, accommodation and experiences, ES Sport promotes the UAE capital's entertainment and sports offering to global markets, attracting visitors from across the globe. The agency also supports the UAE's efforts to showcase its world-class venues, exceptional hospitality, and cultural heritage, highlighting the country as a premier destination for international sporting events. Regional sports tourism expert Alan Holt, Group Managing Director of ES Sport, said, 'With our new identity, we remain committed to delivering unforgettable sporting experiences and sponsorship opportunities that inspire, connect, and entertain. We mark the start of an exciting new chapter with our partners – tourism boards, rights holders, and corporate brands – that our tailored experiences will continue to exceed expectations while reinforcing our commitment to fostering economic growth and community engagement through sport. Holt added, 'We are on a mission to connect the world through sport and dedicated to showcasing the UAE's sporting moments to both local and international audiences. With an expanded portfolio that includes proprietary flagship events, we aim to highlight the exceptional infrastructure we have across the emirates, stimulate local economies, and attract international investment – all of which play a critical role in solidifying the UAE's position as a global hub for sporting excellence.' Sports tourism is one of the biggest growing trends in the travel industry – a potential to drive economic and cultural development in the region. According to the American Express Middle East 2024 report, this is driven by travellers seeking collective, memorable experiences. The sporting landscape has evolved rapidly across the Gulf region and ES Sport aspires to generate opportunities that benefit local businesses, stimulate tourism, and drive sustainable economic growth.
Mid East Info
19-02-2025
- Business
- Mid East Info
ES Sport Unveils New Identity and Leadership to Fuel UAE's Sports Tourism Growth
ES Sport, the leading sports tourism agency in the GCC, announces its new identity with the appointment of H.E. Sheikh Mohamed bin Saif Al Nahyan as its chairman, to help drive sports tourism to the UAE. Previously known as Expat Sport, the new name ES Sport, which stands for Experiences & Sponsorship in Sport, reflects the company's fast-growing, broader audience beyond expatriates and more premium hospitality offerings focused on inbound and outbound sports tourism experiences. In line with the rebrand, the company has expanded its operations to Abu Dhabi with a new office and introduced new services including sponsorships, brand partnerships, and proprietary flagship events across the UAE. Appointment of New Chairman ES Sport has expanded its Executive Team, welcoming H.E. Sheikh Mohamed bin Saif Al Nahyan to lead the agency with a fresh perspective and strategic direction, leveraging his Emirati perspective and a deeper understanding of the Abu Dhabi market. Under his leadership, ES Sport is poised to help advance the UAE agenda further, in line with the UAE Tourism Strategy 2031 and National Sports Strategy 2031. H.E. Sheikh Mohamed bin Saif Al Nahyan, Chairman of ES Sport, said: 'Sport is a powerful tool that enriches society, fostering healthier, more cohesive, and vibrant communities. At ES Sport, we are committed to supporting the UAE's national agenda by driving cultural and economic growth through sports tourism. Proud of our identity, we will integrate Emirati culture and heritage into our premium offerings to further enhance visitor experiences. Through global events and local initiatives, we aim to boost the UAE's sports tourism ecosystem by attracting overseas visitors, creating job opportunities, and fostering partnerships – solidifying Abu Dhabi's position as an Ideal destination for international sporting events and experiences. We envision ES Sport to be recognised as the GCC's leading premium sporting experience and sponsorship agency that contributes to a thriving and dynamic future for the region.' Driving inbound tourism as an official reseller for Abu Dhabi's sporting events ES Sport is an official reseller of Ethara, an entertainment provider managing Abu Dhabi's sporting events organised by DCT Abu Dhabi. By curating premium packages that integrate ticketing, hospitality, accommodation and unforgettable experiences, ES Sport promotes the UAE capital's entertainment and sports offering to global markets, including the NBA Abu Dhabi Games, UFC Abu Dhabi, Abu Dhabi Grand Prix, among others, to attract visitors from across the globe. The agency also supports the UAE's efforts to showcase its world-class venues, exceptional hospitality, and cultural heritage, highlighting the country as a premier destination for international sporting events. Sports tourism is one of the biggest growing trends in the travel industry – a potential to drive economic and cultural development in the region. According to the American Express Middle East 2024 report, this is driven by travellers seeking collective, memorable experiences. The sporting landscape has evolved rapidly across the Gulf region and ES Sport aspires to generate opportunities that benefit local businesses, stimulate tourism, and drive sustainable economic growth. Regional sports tourism expert Alan Holt, Group Managing Director of ES Sport, said: 'With our new identity, we remain committed to delivering unforgettable sporting experiences and sponsorship opportunities that inspire, connect, and entertain. We mark the start of an exciting new chapter with our partners—tourism boards, rights holders, and corporate brands—that our tailored experiences will continue to exceed expectations while reinforcing our commitment to fostering economic growth and community engagement through sport. We are on a mission to connect the world through sport and dedicated to showcasing the UAE's sporting moments to both local and international audiences. With an expanded portfolio that includes proprietary flagship events, we aim to highlight the exceptional infrastructure we have across the emirates, stimulate local economies, and attract international investment – all of which play a critical role in solidifying the UAE's position as a global hub for sporting excellence.'
Zawya
19-02-2025
- Business
- Zawya
ES Sport unveils new identity and leadership to fuel UAE's sports tourism growth
Welcomes H.E. Sheikh Mohamed bin Saif Al Nahyan as Chairman Drives inbound tourism as an official reseller for Abu Dhabi's sporting events ES Sport Executive team (left to right): Alan Holt, Group Managing; H.E. Sheikh Mohamed bin Saif Al Nahyan, Chairman; and Paul McSorley, Group Financial Director Abu Dhabi, UAE: ES Sport, the leading sports tourism agency in the GCC, announces its new identity with the appointment of H.E. Sheikh Mohamed bin Saif Al Nahyan as its chairman, to help drive sports tourism to the UAE. Previously known as Expat Sport, the new name ES Sport, which stands for Experiences & Sponsorship in Sport, reflects the company's fast-growing, broader audience beyond expatriates and more premium hospitality offerings focused on inbound and outbound sports tourism experiences. In line with the rebrand, the company has expanded its operations to Abu Dhabi with a new office and introduced new services including sponsorships, brand partnerships, and proprietary flagship events across the UAE. Appointment of New Chairman ES Sport has expanded its Executive Team, welcoming H.E. Sheikh Mohamed bin Saif Al Nahyan to lead the agency with a fresh perspective and strategic direction, leveraging his Emirati perspective and a deeper understanding of the Abu Dhabi market. Under his leadership, ES Sport is poised to help advance the UAE agenda further, in line with the UAE Tourism Strategy 2031 and National Sports Strategy 2031. H.E. Sheikh Mohamed bin Saif Al Nahyan, Chairman of ES Sport, said: 'Sport is a powerful tool that enriches society, fostering healthier, more cohesive, and vibrant communities. At ES Sport, we are committed to supporting the UAE's national agenda by driving cultural and economic growth through sports tourism. Proud of our identity, we will integrate Emirati culture and heritage into our premium offerings to further enhance visitor experiences. Through global events and local initiatives, we aim to boost the UAE's sports tourism ecosystem by attracting overseas visitors, creating job opportunities, and fostering partnerships - solidifying Abu Dhabi's position as an Ideal destination for international sporting events and experiences. We envision ES Sport to be recognised as the GCC's leading premium sporting experience and sponsorship agency that contributes to a thriving and dynamic future for the region.' Driving inbound tourism as an official reseller for Abu Dhabi's sporting events ES Sport is an official reseller of Ethara, an entertainment provider managing Abu Dhabi's sporting events organised by DCT Abu Dhabi. By curating premium packages that integrate ticketing, hospitality, accommodation and unforgettable experiences, ES Sport promotes the UAE capital's entertainment and sports offering to global markets, including the NBA Abu Dhabi Games, UFC Abu Dhabi, Abu Dhabi Grand Prix, among others, to attract visitors from across the globe. The agency also supports the UAE's efforts to showcase its world-class venues, exceptional hospitality, and cultural heritage, highlighting the country as a premier destination for international sporting events. Sports tourism is one of the biggest growing trends in the travel industry – a potential to drive economic and cultural development in the region. According to the American Express Middle East 2024 report, this is driven by travellers seeking collective, memorable experiences. The sporting landscape has evolved rapidly across the Gulf region and ES Sport aspires to generate opportunities that benefit local businesses, stimulate tourism, and drive sustainable economic growth. Regional sports tourism expert Alan Holt, Group Managing Director of ES Sport, said: 'With our new identity, we remain committed to delivering unforgettable sporting experiences and sponsorship opportunities that inspire, connect, and entertain. We mark the start of an exciting new chapter with our partners—tourism boards, rights holders, and corporate brands—that our tailored experiences will continue to exceed expectations while reinforcing our commitment to fostering economic growth and community engagement through sport. We are on a mission to connect the world through sport and dedicated to showcasing the UAE's sporting moments to both local and international audiences. With an expanded portfolio that includes proprietary flagship events, we aim to highlight the exceptional infrastructure we have across the emirates, stimulate local economies, and attract international investment – all of which play a critical role in solidifying the UAE's position as a global hub for sporting excellence.' About ES Sport ES Sport (Experiences & Sponsorship in Sport) is the leading sports tourism agency in the GCC. Founded in 2009 as Expat Sport, the company provides memorable sport experiences for fans and businesses, with services extending to sports sponsorship, brand partnerships, tours, training camp logistics for schools, clubs and professional teams, across several sports. ES Sport also hosts proprietary flagship events to improve fitness, health, and well-being within the UAE community.
