ADNIC: 2020’s results

Magazine Issue:

2021, a transitional year for insurers [3]

Magazine date:

Feb 2021

ADNIC Abu Dhabi National Insurance Company (ADNIC [4]) recorded a 6.8% turnover increase in 2020. The latter reached 4.012 billion AED (1.09 billion USD) against 3.755 billion AED (1.02 billion USD) in 2019.

The net profit rose from 284.3 million AED (77.38 million USD) as at 31 December 2019 to 371 million AED (100.993 million USD) by late 2020 that is a 30.4% increase over one year.

The company's investment income degraded by 19.2%, set at 114.8 million AED (31.25 million USD) compared to 142.2 million AED (38.7 million USD) in 2019.

Read also | UAE insurance market in 2020 [5]

Mon, 01/03/2021 - 15:54

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[3] https://www.atlas-mag.net/en/issue/2021-a-transition-year-for-insurers
[4] https://www.atlas-mag.net/en/category/tags/compagnies/abu-dhabi-national-insurance-company-adnic
[5] https://www.atlas-mag.net/en/article/emirati-insurance-market-forecasts-for-2020