Abu Dhabi National Insurance Company Announces Net Profit of $ 32.29 Million Over 6 Months

The Abu Dhabi National Insurance Company reported net profit of 118.6 million AED (32.29 million US dollars) in the first half of 2019.

Second quarter net income increased 19.1% to 66 million dirhams (17.97 million dollars) compared to the same period last year.

Total badets increased 11.3% to AED 8.07 billion, while net investment and other income increased 13.5% to AED 79.1 million in the first half of the year. 2019, compared to 69.7 million AED for the same period of 2018.

Total equity amounts to AED 2.14 billion, while total written premiums increased by 29.5% to AED 2.35 billion, compared to AED 1.81 billion for AED. same period in 2018.

General and administrative expenses amounted to AED 125.9 million in the first half of this year, compared with AED 112.3 million for the same period last year.

The company's cash balances amounted to AED 774.5 million, while the company's total investments, including cash, term deposits, bank accounts and investment properties rose to 3.75 billion AED.

"The company continues to focus on maintaining a solid foundation for sustainable growth and value for shareholders, while providing a higher level of customer satisfaction," said Sheikh Mohammed Bin Saif Al Nahyan. , chairman of the insurance company Abu Dhabi National Insurance Company.

He expressed his sincere thanks and appreciation to the wise leaders for their continued support and constant interest in stimulating the investment environment in the country, which has helped to create an attractive economic environment for investment and investors.