ADNIC H1 profit falls 14% after geopolitical risks and flood claims weigh
Dubai: Abu Dhabi National Insurance Company reported a 14.6% year-on-year decline in first-half profit after tax to Dh201 million, with geopolitical risks, flood-related claims and short-term investment market volatility weighing on earnings. Profit before tax fell 13.8% to Dh225.1 million from Dh261.2 million a year earlier, while…
Abu Dhabi National Insurance Company, known as ADNIC, announced a 14.6% drop in its first-half after-tax profit to Dh201 million in 2026 compared to the same period a year earlier. The decline was attributed to geopolitical risks, flood-related claims, and volatility in short-term investment markets. Profit before tax decreased by 13.8% to Dh225.1 million.
Despite the earnings dip, insurance revenue increased slightly to Dh4.1 billion, up from Dh4 billion in the previous year's second half. The company's net insurance service result fell to Dh215.4 million, reflecting challenging claims environments. Gross written premiums rose to Dh6.14 billion, driven by strategic clients and projects in major construction sectors.
ADNIC's combined ratio stood at 95.2%, indicating underwriting performance. The insurer remains committed to protecting customers, expanding its market presence, and pursuing long-term growth through disciplined underwriting, diversification, and international expansion. ADNIC's GIFT City branch in India, operational since April 1, strengthens its presence in the Indian market, and the company signed an agreement with the UAE Ministry of Foreign Affairs for an insurance program for employees and their families.
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