logo
ADNIC records Dh133.3 million net profit before tax in Q1

ADNIC records Dh133.3 million net profit before tax in Q1

Al Etihad14-05-2025
14 May 2025 11:45
ABU DHABI (WAM) Abu Dhabi National Insurance Company (ADNIC) has delivered strong financial results for the first quarter of 2025. It reported a net profit before tax of Dh133.3 million, marking a 19.2 percent increase compared to the same period in 2024 as a result of strong underwriting and investment performance.ADNIC swiftly completed its integration and rebranding efforts following the successful acquisition of a 51 percent stake in Allianz Saudi Fransi Cooperative Insurance Company (ASF) in 2024. ASF now operates as Mutakamela Insurance Company, under ADNIC's strategic direction, reinforcing ADNIC's presence in Saudi Arabia and supporting the company's ambition to be a leading insurance player across the GCC.Mutakamela's performance is fully consolidated into the Group's financial results from the effective date of the acquisition and will continue to contribute to ADNIC's long-term growth.Chairman of ADNIC, Sheikh Mohamed bin Saif Al-Nahyan, commented on ADNIC's performance, 'ADNIC began 2025 strong, where we built upon our momentum in 2024 to achieve solid growth across our core businesses, while maintaining robust underwriting discipline. Despite ongoing macroeconomic and industry-specific challenges, the Group continues to demonstrate resilience and agility."Our recent strategic expansion efforts in Saudi Arabia continue to reflect our aspiration of becoming the leading insurance provider across the region.'
Chief Executive Officer of ADNIC, Charalampos Mylonas, said, "We made the best possible start to the year, delivering strong financial results supported by resilient underwriting, cost discipline, and strategic expansion.'
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UAE, Turkish Presidents discuss cooperation, regional developments
UAE, Turkish Presidents discuss cooperation, regional developments

Emirates 24/7

timean hour ago

  • Emirates 24/7

UAE, Turkish Presidents discuss cooperation, regional developments

UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Recep Tayyip Erdoğan, President of the Republic of Türkiye, held a phone call to discuss bilateral cooperation across all sectors that support development and progress in both nations and serve shared interests. The call reflected the close ties and comprehensive economic partnership between the two countries. The two leaders also discussed a range of regional and international issues of mutual concern, including recent developments in the Middle East. They underscored their countries' commitment to supporting all efforts aimed at promoting peace and stability in the region, thereby contributing to the prosperity of its peoples. They also emphasised the importance of enhancing coordination to resolve regional crises through dialogue and diplomacy, which they affirmed remains the only path to achieving lasting peace and stability in the region. Follow Emirates 24|7 on Google News.

UAE, Turkish Presidents discuss cooperation, regional developments
UAE, Turkish Presidents discuss cooperation, regional developments

Zawya

time3 hours ago

  • Zawya

UAE, Turkish Presidents discuss cooperation, regional developments

ABU DHABI: UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Recep Tayyip Erdoğan, President of the Republic of Türkiye, held a phone call today to discuss bilateral cooperation across all sectors that support development and progress in both nations and serve shared interests. The call reflected the close ties and comprehensive economic partnership between the two countries. The two leaders also discussed a range of regional and international issues of mutual concern, including recent developments in the Middle East. They underscored their countries' commitment to supporting all efforts aimed at promoting peace and stability in the region, thereby contributing to the prosperity of its peoples. They also emphasised the importance of enhancing coordination to resolve regional crises through dialogue and diplomacy, which they affirmed remains the only path to achieving lasting peace and stability in the region

UAE: Sheikh Mohamed, Erdogan discuss regional developments, nations' progress
UAE: Sheikh Mohamed, Erdogan discuss regional developments, nations' progress

Khaleej Times

time18 hours ago

  • Khaleej Times

UAE: Sheikh Mohamed, Erdogan discuss regional developments, nations' progress

President Sheikh Mohamed bin Zayed Al Nahyan and Recep Tayyip Erdoğan, President of the Republic of Türkiye, held a phone call today to discuss bilateral cooperation across all sectors that support development and progress in both nations and serve shared interests. The call reflected the close ties and comprehensive economic partnership between the two countries. The two leaders also discussed a range of regional and international issues of mutual concern, including recent developments in the Middle East. They underscored their countries' commitment to supporting all efforts aimed at promoting peace and stability in the region, thereby contributing to the prosperity of its peoples. The two leaders also emphasised the importance of enhancing coordination to resolve regional crises through dialogue and diplomacy, which they affirmed remains the only path to achieving lasting peace and stability in the region.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store