Adnic reports net profit of Dh107.4m in H1

Abu Dhabi: Abu Dhabi National Insurance Company (Adnic) reported a net profit of Dh107.4 million for the period ending on June 30 compared to a net loss of Dh298.8 million for the same period in 2015, the company said in a statement on Monday.

The profit of the company in the second quarter of this year is Dh68.4 million compared to a loss of Dh303.8 million in the second quarter of 2015.

Ahmad Idris, CEO of Adnic, said the continued profitability of Adnic in 2016 is driven by the holistic realignment of the company’s operational strategy in 2015 and its selectivity in underwriting.