Abu Dhabi National Insurance Company - ADNIC

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 officeBuilding No. 403 P.O. Box 839, Abu Dhabi, UAE
Phone+ 971 8008040 / 02 408 01 00
E-mailinfo [at] adnic [dot] ae / adnic [at] adnic [dot] ae
Websitehttps://adnic.ae/

ADNIC: rating

AgencyRatingOutlook
Standard & Poor’sAStable
CEOAStable

ADNIC: management

Chairman of the board of directorsSheikh Mohamed Bin Saif Al Nahyan
CEOAhmad Idris

ADNIC: share capital, shareholder’s equity and shareholding

Figures in USD
 20212020
Share capital155 165 400155 165 400-
Shareholder’s equity770 778 136682 474 32312.94%

Main shareholders%
Mamoura Diversified Global Holding24.76
Sheikh Tahnoon Bin Mohammed Al-Nahyan5.30
H. E. Khalaf Bin Ahmed Al-Otaibah10.11
Others53.92
S B R Investment6.87

ADNIC: turnover and result

Figures in USD

 20212020
Turnover1 161 665 3671 092 199 1786.36%
Net result109 377 996100 992 5318.3%

ADNIC: turnover breakdown per class of business

Figures in USD
 20212020% 2021
Commercial lines of business (1)621 047 064660 480 036-5.97%53.46%
Consumer line of business (2)540 618 303431 719 14225.22%46.54%
Total1 161 665 3671 092 199 1786.36%100%

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

ADNIC: main indicators

Figures in %
 20212020
Loss ratio (1)65.0362.384.24
Management expenses ratio (1)23.8727.44-13.01
Combined ratio (1)93.2289.82-1.03
Shareholder's equity / Technical reserves67.1757.4716.88
Shareholder's equity / Gross written premiums66.3562.496.19
Net result / Gross written premiums9.429.251.83
Net result / Shareholder's equity (ROE)14.1914.80-4.10

(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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