Abu Dhabi:Abu Dhabi National Insurance Company (ADNIC) has announced a net profit after tax of AED356 million for the first nine months of 2026, closely matching the AED354.7 million recorded in the same period last year.
According to Emirates News Agency, the company's core business remained robust, bolstered by disciplined risk management and the resilience of its underlying operations. Insurance revenue increased by 12.9 percent to AED6.9 billion, showcasing the Group's capability to seize opportunities across key sectors while providing comprehensive insurance coverage to individuals and businesses.
ADNIC maintained a strong underwriting performance, achieving a combined ratio of 92.8 percent. However, the net insurance service result decreased by 5.4 percent year-on-year to AED361.5 million due to higher claims activity. The Group demonstrated resilience during the period, continuing to fulfill its commitments to customers.
For the nine-month period, net investment income rose by 2.1 percent to AED228.1 million. Despite temporary financial market volatility, the Group benefited from strong growth in bond interest income, rental income, and robust investment disposal activity.
In September 2026, AM Best reaffirmed ADNIC's Financial Strength Rating at 'A' (Excellent) and its Long-Term Issuer Credit Rating at 'a' (Excellent), both with stable outlooks. Sheikh Mohamed bin Saif Al Nahyan, Chairman of ADNIC, emphasized the company's focus on protecting customers, strengthening its market position, and advancing a long-term growth strategy.
Sheikh Mohamed noted that ADNIC's resilient performance reflects its strong underlying business and disciplined risk management approach. He highlighted the importance of the company's diversified portfolio and growing international presence in supporting the economic ambitions of the UAE and other markets while creating sustainable value for shareholders and customers.
Jugal Madaan, Acting CEO of ADNIC, stated that the company's performance underscores its continued focus on underwriting discipline, advanced analytics, and operational excellence. He pointed out that ADNIC continued to meet its commitments to customers despite higher claims activity and short-term investment market volatility. The launch of a branch in India and the operations of Mutakamela Insurance Company in Saudi Arabia supported the Group's revenue diversification strategy.
