205.2 million dirhams, net profits from Abu Dhabi National Insurance

Abu Dhabi (Etihad)

The Abu Dhabi National Insurance Company announced yesterday that its profits in the first half of this year, before applying the tax, increased by 10% annually to reach 224.3 million dirhams, while profits net approximately 205.2 million dirhams.
The company said, in a press release: Total accumulated assets at group level increased by 41%, reaching 10.9 billion dirhams on June 30, 2024, compared to 7.7 billion dirhams on December 31, 2023. Total shareholders’ equity reached 3.2 billion dirhams.
The company continued to achieve outstanding performance in the year 2024, which included achieving strong financial results and implementing key strategic growth initiatives to also successfully completed the acquisition of a 51% stake (Allianz Saudi Fransi Cooperative. Insurance) in the Kingdom of Saudi Arabia This is an important step that will contribute to strengthening the company’s position as a leading insurance company in the region, and which demonstrates its commitment to providing exceptional customer service and innovative insurance solutions in the Gulf Cooperation Council countries. .
Total accumulated assets at group level increased by 41% to reach 10.9 billion dirhams, compared to 7.7 billion dirhams at the end of December, and total shareholders’ equity reached 3.2 billion dirhams.
Total insurance income in the six months increased a significant rate of 54% annually, to register a new record to 3.3 billion dirhams, compared to 2.1 billion dirhams for the same period in 2023.
In the first six months at the end of June, the National Insurance Company of Abu Dhabi achieved a noticeable increase in net insurance service results of 15% annually to reach 204.3 million dirhams, compared to 178.1 million dirhams for the same period in 2023, which reflects the strength and stability of the underwriting activity and careful strategic planning in the company.
On this occasion, Sheikh Mohammed bin Saif Al Nahyan, Chairman of the Board of Directors of Abu Dhabi National Insurance Company, said: Our achievements reflect our deep commitment to operational excellence and embody our vision ambitious strategy, and our strong financial strength. with the National Insurance Company of Abu Dhabi, which is based on an Efficient and professional work team, it puts us at the forefront of institutions that are able to achieve sustainable growth, continuous innovation, and provide the highest levels of value to the our shareholders, as well as contributing effectively to the development of the insurance sector at regional level.