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Abu Dhabi National Insurance Company (ADNIC) closed the first three quarters of 2024 with insurance revenue of 5.2 billion AED (1.4 billion USD), up by 57.2% over one year.
Insurance service result increased by 13.7% to 308.5 million AED (84 million USD). Net investment income amounted to 202.3 million AED (55.1 million USD), showing a 27.3% growth over twelve months.
As at 30 September 2024, net profit was slightly up by 2% to 307.8 million AED (83.8 million USD).
On 17 April 2024, ADNIC successfully finalized the acquisition of 51% of Saudi insurer Allianz Saudi Fransi. Since then, the Emirati insurer's financial results have included those of Allianz Saudi Fransi, which will shortly be operating under the name Mutakamela Insurance Company.
