Adnic’s profit up by 3.7% to Dh235.6m in 2018
CEO of the firm optimistic about growth this year
Abu Dhabi: Abu Dhabi National Insurance Company (Adnic)’s profit for 2018 increased by 3.7 per cent to Dh235.6 million compared to Dh227.3 million during the previous year.
Gross written premiums went up 10.1 per cent to Dh2.91 billion last year, compared to Dh2.64 billion in 2017, the company said in a statement on Wednesday.
“2018 marked another successful year for Adnic, characterised by strong revenue growth, high net profit and sharp underwriting discipline, with our performance standing as testament to our innovative and customer-centric service offering,” Ahmad Idris, CEO of Adnic said.
“In 2019, with the sector well placed for growth, innovation and technological advancement will be key differentiations. Adnic will continue to develop as a business and seize new opportunities by investing in market leading technologies that both bring us closer to our customers while accelerating the pace of innovation in the wider sector.”
The Board of Directors recommended the distribution of a cash dividend of 30 fils per share following strong results.