Abu Dhabi National Insurance Company (ADNIC) reported AED401.8 million in net profit in its financial results for 2021.
“ADNIC’s strong results in 2021 are a testament to the Company’s core strengths in the insurance business. Our market share continued to grow and the Gross Written Premium grew by 6.4% over the prior year,” Sheikh Mohamed bin Saif Al Nahyan, Chairman of ADNIC, said.
”The Company’s diversified investment portfolio delivered excellent results with an increase in the Investment Income of 25.6% compared to 2020.
He added that ADNIC’s digital initiatives will be key contributors to its success going forward. The Company’s earnings per Share are AED 0.70, an increase of 8.3% and 7.7%, respectively, over the prior year.”
Ahmad Idris, CEO of ADNIC, said: “ADNIC delivered a strong performance with a full-year net profit of AED 401.8 million and sustained growth across key metrics, representing an increase by 8.3 % compared to the previous year”.
He added that 2021 was a milestone year for the UAE, marking the Golden Jubilee and the launch of a new vision that will drive the nation’s development over the coming 50 years.
“As a UAE national insurance company for nearly half a century, we look forward to supporting the UAE’s strategic projects as it begins the journey towards the next 50 years,” Idris said.
In the fourth quarter of 2021, ADNIC extended its partnership with Al Bayt Mitwahid Association to support the association’s wide range of community welfare initiatives.