Abu Dhabi, UAE — 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 2024.
As a result of strong underwriting and investment performance, ADNIC’s net profit before tax grew by 16.3 percent year on year to AED 466.4 million.
Its total assets grew by 52.9 percent year on year to reach AED 11.8 billion and total shareholders equity grew by 20.6 percent for year on year to reach AED 3.5 billion.
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.”
