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FINANCIAL NEWS
Abu Dhabi’s Adnic’s 2011 profit rises 11%
01 Mar 2012
(MENAFN) Abu Dhabi National Insurance Company (Adnic) said that 2011’s net profit rose 11 percent from 2010’s USD38.65 million to USD43 million, reported Gulf News.
The company added that gross written premium reached USD560 million, up from USD481 million a year earlier.
Moreover, net underwriting income went up from USD60.42 million to USD74.85 million.
It is worth noting that Adnic ended 2011 with USD313 million in cash and bank balances, compared with USD329 million in 2010.
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