Abu Dhabi National Insurance Company (Adnic)’s net profit grew 17.1 per cent in the first half of 2018, largely due to an increase in net investment income, results show.
The Abu Dhabi-listed company posted a net profit of Dh150.5 million, during the six-month period ended June 30, compared to Dh128.5 million for the same period in 2017.
Net investment income and other income increased 12.1 per cent to Dh69.7 million in the first half of 2018, compared to Dh62.2 million for the same period in 2017.
“This performance is a testament to our sound underwriting strategy, financial strength and market-leading position,” Ahmad Idris, CEO of Adnic said in a statement on Wednesday.
“Moving to the remainder of the year, we are looking forward to continuing to leverage our innovative capabilities to meet the ever growing needs of our clients and to achieve sound return to our shareholders.”
Source: Gulf News