Abu Dhabi National Insurance Company - ADNIC

	Company: Abu Dhabi National Insurance Company (ADNIC)
	Date of creation: 1972
	Classes of business: Life and non-life insurance
	Geographical presence: 14 branches in UAE and 1 in London - UK

ADNIC: contact

Head office	Building No. 403 P.O. Box 839, Abu Dhabi, UAE
Phone	+ 971 8008040 / 02 408 01 00
E-mail	info [at] adnic [dot] ae / adnic [at] adnic [dot] ae
Website	https://adnic.ae/

Chairman of the board of directors	Sheikh Mohamed Bin Saif Al Nahyan
CEO	Ahmad Idris

Figures in USD

Main shareholders	%
Mamoura Diversified Global Holding	24.76
Sheikh Tahnoon Bin Mohammed Al-Nahyan	5.30
H. E. Khalaf Bin Ahmed Al-Otaibah	10.11
Others	53.92
S B R Investment	6.87

Figures in USD

Figures in USD

	2021	2020	▲	% 2021
Commercial lines of business ⁽¹⁾	621 047 064	660 480 036	-5.97%	53.46%
Consumer line of business ⁽²⁾	540 618 303	431 719 142	25.22%	46.54%
Total	1 161 665 367	1 092 199 178	6.36%	100%

⁽¹⁾ Including marine cargo, marine hull, aviation, energy, property and engineering
⁽²⁾ Including accident, motor and medical

Figures in %

	2021	2020	▲
Loss ratio (1)	65.03	62.38	4.24
Management expenses ratio (1)	23.87	27.44	-13.01
Combined ratio (1)	93.22	89.82	-1.03
Shareholder's equity / Technical reserves	67.17	57.47	16.88
Shareholder's equity / Gross written premiums	66.35	62.49	6.19
Net result / Gross written premiums	9.42	9.25	1.83
Net result / Shareholder's equity (ROE)	14.19	14.80	-4.10

(1) Calculated for life and non life activities

Notes:

Loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
Net management expenses ratio = Overhead expenses and acquisition costs / Net written premiums
Net combined ratio = Loss ratio + Management expenses ratio

Exchange rate as at 31/12/2020 : 1 AED = 0.27222 USD ; at 31/12/2021 : 1 AED = 0.27222 USD

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Tue, 18/10/2022 - 12:58