The Abu Dhabi National Insurance Company (Adnic) posted a net profit of 143.6 million Emirati dirhams ($39 million) for the year 2001, marginally up from Dh 143.2 million in the previous year, reported the official WAM news agency.
Adnic’s general assembly recently approved the distribution of shareholder dividends at a 50 percent rate of the nominal value per share. The company’s the total gross premium for all branches in 2001 rose to Dh 418.7 million as against the 2000 figure of Dh 398.26 million.
The company’s total general expenses rose slightly to Dh 30.2 million in 2001 from Dh 30 million in 2000 and its total assets rose to Dh 1.5 billion from Dh1.38 billion during the same period.
Founded in 1972, Adnic is a public shareholding company whose clientele includes national and multinational firms, requiring insurance and risk management programs as well as private individuals wishing to insure their personal interests.
Adnic operates from its head office in Abu Dhabi and via four other branches in the United Arab Emirates (UAE) and Saudi Arabia. It also has a liaison office in London, in the United Kingdom. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
