Abu Dhabi National Insurance Company

Abu Dhabi National Insurance Company PSC (Arabic: شركة أبوظبي الوطنية التأمين‎; ADNIC) is an insurance company based in Abu Dhabi, United Arab Emirates. It is the third largest insurer in the country as of May 2015.[3]

Abu Dhabi National Insurance Company PSC
TypePublic
ADX: ADNIC
IndustryInsurance
Founded1972 (1972)
Headquarters
ADNIC Building
Khalifa Street, Abu Dhabi
,
United Arab Emirates
Key people
  • Sheikh Mohamed bin Saif Al-Nahyan (Chairman)
  • Ahmad Idris (CEO)
Products
Revenue AED 2,631 million (2014)[1]
-AED 280 million (2014)[1]
Total assets AED 5,556 million (2014)[1]
Total equity AED 1,634 million (2014)[1]
ParentAbu Dhabi Investment Council (23.8%)[2]
Websitewww.adnic.ae

ADNIC was founded in 1972 and is part of the Abu Dhabi Investment Council's portfolio of companies. The Council is the largest shareholder in the company with a 24 percent stake.[2]

The company offers both life and nonlife insurance products in the UAE.[4] Its main corporate offerings are in the property, marine and aviation businesses.[4] It plans to expand its presence in the Middle East and North Africa (MENA) region and into the aerospace and SME industries.[5][6]

In 2015, the company's colour-coded motor insurance offering was recognised as Best Consumer Insurance Product at the Banker Middle East UAE Product Awards.[7]

References
  1. Annual Report 2014, Abu Dhabi National Insurance Company PSC, 2014-12-31, retrieved 2015-08-29
  2. "Major shareholders". Abu Dhabi Securities Exchange. Retrieved 2015-08-29.
  3. Everington, John (2015-05-11). "Oman Insurance Company profit drops despite premium increases". The National. Retrieved 2015-08-29.
  4. "Adnic's gross written premium rise 9%". Gulf News. 2015-03-25. Retrieved 2015-08-29.
  5. Rahman, Fareed (2014-10-01). "Adnic sets higher goals as it expands". Gulf News. Retrieved 2015-08-29.
  6. Rahman, Fareed (2015-01-17). "Adnic sets higher goals as it focuses on profits, service". Gulf News. Retrieved 2015-08-29.
  7. "BME Product Awards UAE 2015". CPI Financial. Retrieved 2015-08-29.
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