Abu Dhabi National Insurance Company achieved a 45.5% increase in profits for the first nine months of this year 2020 to reach 282.8 million dirhams.
According to the Emirates News Agency, the company achieved strong gains in total insurance premiums, which registered a growth of 6.2% to reach 3.17 billion dirhams compared to the previous year, reaching 2.98 billion dirhams. Technical profits also registered an increase of 125.5% to reach 201.8 million dirhams in the aforementioned period of 2020 compared to 89.5 million in the previous year, while underwriting revenues recorded a growth of 44.0% during the first nine months, compared with the same period of last year.
The increase in insurance premiums came as a result of the growth witnessed by the commercial insurance business, which recorded an increase of 12.8% compared to the previous year thanks to the success in attracting new business .. as the company achieved 5% growth in the individual insurance business during the third quarter of 2020, taking advantage of the new business momentum.
Sheikh Mohammed bin Saif Al Nahyan, Chairman of Abu Dhabi National Insurance Company, said: Our strategic measures enabled us to achieve strong financial performance in light of the exceptional circumstances that the world witnessed this year. ; As the net profit amounted to 282.8 million dirhams, and we succeeded in attracting many new and important businesses, which enabled us to move forward in the process of growth and we also continued to work on our digital initiatives, pointing to the continuation of the development of services and products during the next phase by taking advantage of the best digital innovations that meet the needs of our customers Individuals and SMEs.
