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ADNIC: increasing 2019 results

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Magazine Issue: 
Coronavirus: a crash test for the Chinese insurance business [3]
Magazine date: 
Feb 2020

ADNICAbu Dhabi National Insurance Company (ADNIC [4]) reported a 29.1% increase in its 2019 turnover. The latter reached 3.76 billion AED (1 023 million USD) compared to 2.91 billion AED (792 million USD) in 2018.

The incurred losses also improved to 941 million AED (256 million USD) against 1 028 million AED (280 million USD) one year earlier. The net profit grew by 20.7% and amounted to 284.3 million AED (77.4 million USD) versus 235.6 million AED (64.15 million USD) in 2018.

For its part, ADNIC's shareholder's equity rose to 2 296 million AED (624 million USD) in comparison with the 2 102 million AED (572 million USD) reported in 2018.

Read also | UAE insurance market [5]

Tue, 18/02/2020 - 17:37

Source URL: https://www.atlas-mag.net/en/article/adnic-increasing-2019-results

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