Decline of ADNIC’s net result for the year 2014

Abu Dhabi National Insurance Company (ADNIC) posted at the end of 2014 an increase of 9% of its gross written premiums at 2.63 billion AED (720 million USD).

Despite this good performance in terms of premiums, the insurer ended the year with a net loss of 280 million AED (76.2 million USD), compared to a net profit of 156 million AED (42.5 million USD) in 2013.

This result is justified partly by the poor technical results generated by competition and lower financial returns.