Abu Dhabi National Insurance Company

Ticker/ISIN
ADNIC
AEA001101012
Market/Country
Abu Dhabi Stock Exchange
United Arab Emirates
Latest Stock Price
6.08 AED
2024-02-21

Year to date

0.02 %

3 months

0.00 %

6 months

0.00 %

1 year

0.00 %

3 years

0.00 %

5 years

0.00 %

Abu Dhabi National Insurance Company P.S.C. (the Company) is a public shareholding company incorporated in Abu Dhabi, UAE, by Law No.(4) of 1972

Latest Pressrelease Summaries

Abu Dhabi National Insurance Company
Abu Dhabi National Insurance Company PJSC held its Board of Directors Meeting No. 5/2024 on Thursday, July 11, 2024, from 11:00 am to 12:30 pm. All five required board members were present, meeting the quorum. The board approved the meeting agenda, the minutes from the previous meeting held on May 27, 2024, and a proposal from the executive management to explore strategic growth opportunities for the company. The meeting details were signed and stamped by Omar Khedr, the Board Secretary.
Abu Dhabi National Insurance Company
Abu Dhabi National Insurance Company PJSC will hold its Board of Directors Meeting No. 5/2024 on Thursday, July 11, 2024, at 11:00 am. The agenda includes the adoption of the agenda, approval of the minutes from the previous meeting held on May 27, 2024, follow-up on the ordinary business of the company, and any other matters. The disclosure is signed by Omar Khedr, Board Secretary, and copies have been sent to the Securities and Commodities Authority and the Central Bank of the UAE.
Abu Dhabi National Insurance Company
On May 31, 2024, the Abu Dhabi Securities Exchange (ADX) received a notice from the Abu Dhabi National Insurance Company PJSC regarding the resignation of Mr. Yousuf Amin, who served as the Executive Vice President & Chief Operational Services and Technology Officer. This resignation will take effect on July 21, 2024, in accordance with Article 33 of the SCA Board of Directors’ Decision No. 3 of 2000, which pertains to the Regulation of Disclosure and Transparency. The notice was signed by Charalampos Mylonas, the Chief Executive Officer.
Abu Dhabi National Insurance Company
The Board of Directors of Abu Dhabi National Insurance Company PJSC held their 4th meeting of 2024 on 27th May. The agenda included the adoption of the agenda, approval of the previous meeting's minutes, follow-up on the company's regular business, and discussion of any other matters. The meeting was officially documented by Board Secretary, Omar Khedr. Both the Securities and Commodities Authority and the Central Bank of the UAE were informed about the meeting.
Abu Dhabi National Insurance Company
The Abu Dhabi National Insurance Company (ADNIC) has reported strong underwriting performance in Q1 2024, with a combined ratio of 90% and net insurance service results of AED 103.2 million. The company also experienced a record Gross Written Premium of AED 3,031 million, a growth of 49.9% compared to the same period last year. Strategic asset allocation adjustments from the previous year resulted in a 17.4% increase in net income from investments, reaching AED 54.4 million. Despite ongoing investments, the company has managed to control general expenses, reflected in an expense ratio of 12.3%. ADNIC also acquired a majority stake in Allianz Saudi Arabia Cooperative Insurance Company, reinforcing its position as a leading regional insurer. The company's net profit before tax was AED 111.8 million, a 12.1% increase YoY, resulting in a net profit after tax of AED 100.9 million.
Abu Dhabi National Insurance Company
The text presents a review report and condensed consolidated interim financial information for Abu Dhabi National Insurance Company PJSC and its subsidiary. The report covers the three-month period ending on 31 March 2024. The company's principal business address is P.O. Box: 839, Abu Dhabi, UAE.
Abu Dhabi National Insurance Company
Abu Dhabi National Insurance Company (ADNIC) reported a strong start to 2024 with a 12.1% year-over-year increase in pre-tax net profit, reaching AED 111.8 million. The company also adopted corporate income tax, resulting in a net profit after tax of AED 100.9 million. The profitability was driven by robust underwriting performance and strong investment results. ADNIC also completed a strategic acquisition of a majority stake in Allianz Saudi Arabia Cooperative Insurance Company, strengthening its position as a leading regional insurer. Total insurance revenue for the first quarter of 2024 was AED 1.56 billion, compared to AED 1.00 billion in 2023. Net insurance service result stood at AED 103.2 million, and net income from investment increased by 17.4% to AED 54.4 million. Other operating expenses were AED 49.7 million.
Abu Dhabi National Insurance Company
The Abu Dhabi National Insurance Company (ADNIC) has reported strong financial results for Q1 2024, with a combined ratio of 90% and net insurance service results of AED 103.2 million. The company also achieved a record Gross Written Premium of AED 3,031 million, marking a 49.9% growth compared to the same period in the previous year. Strategic asset allocation adjustments led to a 17.4% increase in net income from investments, amounting to AED 54.4 million. Despite ongoing investments and controlling general expenses, the company reported a net profit before tax of AED 111.8 million, a 12.1% increase from the previous year. After adopting the corporate income tax, the net profit after tax was AED 100.9 million. The company also successfully acquired Allianz Saudi Fransi Cooperative Insurance Company, boosting its regional presence.

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Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

Disclosures: Abu Dhabi National Insurance Company Board Meeting Results held on 11/07/2024 at 11:00am

Abu Dhabi National Insurance Company PJSC held its Board of Directors Meeting No. 5/2024 on Thursday, July 11, 2024, from 11:00 am to 12:30 pm. All five required board members were present, meeting the quorum. The board approved the meeting agenda, the minutes from the previous meeting held on May 27, 2024, and a proposal from the executive management to explore strategic growth opportunities for the company. The meeting details were signed and stamped by Omar Khedr, the Board Secretary.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

Disclosures: Abu Dhabi National Insurance Company Announcement of Board Meeting to be held on 11/07/2024 at 11:00am

Abu Dhabi National Insurance Company PJSC will hold its Board of Directors Meeting No. 5/2024 on Thursday, July 11, 2024, at 11:00 am. The agenda includes the adoption of the agenda, approval of the minutes from the previous meeting held on May 27, 2024, follow-up on the ordinary business of the company, and any other matters. The disclosure is signed by Omar Khedr, Board Secretary, and copies have been sent to the Securities and Commodities Authority and the Central Bank of the UAE.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

Disclosures: Abu Dhabi National Insurance Company - Resignation

On May 31, 2024, the Abu Dhabi Securities Exchange (ADX) received a notice from the Abu Dhabi National Insurance Company PJSC regarding the resignation of Mr. Yousuf Amin, who served as the Executive Vice President & Chief Operational Services and Technology Officer. This resignation will take effect on July 21, 2024, in accordance with Article 33 of the SCA Board of Directors’ Decision No. 3 of 2000, which pertains to the Regulation of Disclosure and Transparency. The notice was signed by Charalampos Mylonas, the Chief Executive Officer.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

Disclosures: Abu Dhabi National Insurance Company Board Meeting Results held on 27/05/2024 at 10:00am

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

Disclosures: Abu Dhabi National Insurance Company Announcement of Board Meeting to be held on 27/05/2024 at 10:00am

The Board of Directors of Abu Dhabi National Insurance Company PJSC held their 4th meeting of 2024 on 27th May. The agenda included the adoption of the agenda, approval of the previous meeting's minutes, follow-up on the company's regular business, and discussion of any other matters. The meeting was officially documented by Board Secretary, Omar Khedr. Both the Securities and Commodities Authority and the Central Bank of the UAE were informed about the meeting.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

ADX Disclosures: ADNIC Resumption Notice

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

Disclosures: Abu Dhabi National Insurance Company Management Discussion and Analysis Report for the Period Ended March 31,2024

The Abu Dhabi National Insurance Company (ADNIC) has reported strong underwriting performance in Q1 2024, with a combined ratio of 90% and net insurance service results of AED 103.2 million. The company also experienced a record Gross Written Premium of AED 3,031 million, a growth of 49.9% compared to the same period last year. Strategic asset allocation adjustments from the previous year resulted in a 17.4% increase in net income from investments, reaching AED 54.4 million. Despite ongoing investments, the company has managed to control general expenses, reflected in an expense ratio of 12.3%. ADNIC also acquired a majority stake in Allianz Saudi Arabia Cooperative Insurance Company, reinforcing its position as a leading regional insurer. The company's net profit before tax was AED 111.8 million, a 12.1% increase YoY, resulting in a net profit after tax of AED 100.9 million.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

ADX Disclosures: ADNIC Resumption Notice

The text presents a review report and condensed consolidated interim financial information for Abu Dhabi National Insurance Company PJSC and its subsidiary. The report covers the three-month period ending on 31 March 2024. The company's principal business address is P.O. Box: 839, Abu Dhabi, UAE.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

Disclosures: Abu Dhabi National Insurance Company Management Report for the Period Ended March 31,2024

Abu Dhabi National Insurance Company (ADNIC) reported a strong start to 2024 with a 12.1% year-over-year increase in pre-tax net profit, reaching AED 111.8 million. The company also adopted corporate income tax, resulting in a net profit after tax of AED 100.9 million. The profitability was driven by robust underwriting performance and strong investment results. ADNIC also completed a strategic acquisition of a majority stake in Allianz Saudi Arabia Cooperative Insurance Company, strengthening its position as a leading regional insurer. Total insurance revenue for the first quarter of 2024 was AED 1.56 billion, compared to AED 1.00 billion in 2023. Net insurance service result stood at AED 103.2 million, and net income from investment increased by 17.4% to AED 54.4 million. Other operating expenses were AED 49.7 million.

1. Attached Document

Abu Dhabi Stock Exchange News

Abu Dhabi Stock Exchange News

News Update From Abu Dhabi National Insurance Company

Disclosures: Abu Dhabi National Insurance Company Board of Directors' Report for the Period Ended March 31,2024

The Abu Dhabi National Insurance Company (ADNIC) has reported strong financial results for Q1 2024, with a combined ratio of 90% and net insurance service results of AED 103.2 million. The company also achieved a record Gross Written Premium of AED 3,031 million, marking a 49.9% growth compared to the same period in the previous year. Strategic asset allocation adjustments led to a 17.4% increase in net income from investments, amounting to AED 54.4 million. Despite ongoing investments and controlling general expenses, the company reported a net profit before tax of AED 111.8 million, a 12.1% increase from the previous year. After adopting the corporate income tax, the net profit after tax was AED 100.9 million. The company also successfully acquired Allianz Saudi Fransi Cooperative Insurance Company, boosting its regional presence.

1. Attached Document

Page 1