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FINANCIAL NEWS
Abu Dhabi’s Adnic records USD 10.6mn net profit
15 May 2016
(MENAFN) Abu Dhabi National Insurance Co. (Adnic) proclaimed a net profit of USD 10.61mn for the first quarter of 2016, an increase of 670 percent over last year.
Moreover, the firm’s net investment income contributed USD 6.12mn towards the bottom-line profit, while the net technical profit reached USD 4.49mn.
Accordingly, the firm started the year with an increase in net underwriting income and whole net profit, driven by corrective measures applied by the firm.
The company’s whole investments reached USD 0.72bn on March 31, 2016, compared to USD 0.74bn of last year.
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