ADNIC is back to profitability in 2016

Unlike previous years, 2014 and 2015 that were strained by respective losses of 280.4 million AED (76.3 million USD) and 334.5 million AED (91.1 million USD), Abu Dhabi National Insurance Company (ADNIC), regained profitability in 2016.

At the end of the previous year, the Emirati insurer reported 205 million AED (55.8 million USD) in net profits. The company’s turnover has grown by 4% going from 2.29 billion AED (623.6 million USD) in 2015 to 2.38 billion AED (648 million USD) a year later.

The company’s assets amounted to 6.49 billion AED (1.7 billion USD), a 15.8% increase in comparison with the 5.6 billion AED (1.5 billion USD) reported in 2015.