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Abu Dhabi National Insurance Company - ADNIC
October 18, 2022
| Company: Abu Dhabi National Insurance Company (ADNIC) |
| Date of creation: 1972 | |
| Classes of business: Life and non-life insurance | |
| Geographical presence: 14 branches in UAE and 1 in London - UK |
ADNIC: contact
| Head office | Building No. 403 P.O. Box 839, Abu Dhabi, UAE |
| Phone | + 971 8008040 / 02 408 01 00 |
| info@adnic.ae / adnic@adnic.ae | |
| Website | https://adnic.ae/ |
ADNIC: rating
| Agency | Rating | Outlook |
| Standard & Poor’s | A | Stable |
| CEO | A | Stable |
ADNIC: management
| Chairman of the board of directors | Sheikh Mohamed Bin Saif Al Nahyan |
| CEO | Ahmad Idris |
ADNIC: share capital, shareholder’s equity and shareholding
Figures in USD| 2021 | 2020 | ▲ | |
| Share capital | 155 165 400 | 155 165 400 | - |
| Shareholder’s equity | 770 778 136 | 682 474 323 | 12.94% |
| Main shareholders | % |
| Mamoura Diversified Global Holding | 24.76 |
| Sheikh Tahnoon Bin Mohammed Al-Nahyan | 5.30 |
| H. E. Khalaf Bin Ahmed Al-Otaibah | 10.11 |
| Others | 53.92 |
| S B R Investment | 6.87 |
ADNIC: turnover and result
Figures in USD
| 2021 | 2020 | ▲ | |
| Turnover | 1 161 665 367 | 1 092 199 178 | 6.36% |
| Net result | 109 377 996 | 100 992 531 | 8.3% |
Read also | ADNIC: Q1 2022 results
ADNIC: turnover breakdown per class of business
Figures in USD| 2021 | 2020 | ▲ | % 2021 | |
| Commercial lines of business (1) | 621 047 064 | 660 480 036 | -5.97% | 53.46% |
| Consumer line of business (2) | 540 618 303 | 431 719 142 | 25.22% | 46.54% |
| Total | 1 161 665 367 | 1 092 199 178 | 6.36% | 100% |
(1) Including marine cargo, marine hull, aviation, energy, property and engineering
(2) Including accident, motor and medical
ADNIC: main indicators
Figures in %| 2021 | 2020 | ▲ | |
| Loss ratio (1) | 65.03 | 62.38 | 4.24 |
| Management expenses ratio (1) | 23.87 | 27.44 | -13.01 |
| Combined ratio (1) | 93.22 | 89.82 | -1.03 |
| Shareholder's equity / Technical reserves | 67.17 | 57.47 | 16.88 |
| Shareholder's equity / Gross written premiums | 66.35 | 62.49 | 6.19 |
| Net result / Gross written premiums | 9.42 | 9.25 | 1.83 |
| Net result / Shareholder's equity (ROE) | 14.19 | 14.80 | -4.10 |
(1) Calculated for life and non life activities
Notes:
- Loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
- Net management expenses ratio = Overhead expenses and acquisition costs / Net written premiums
- Net combined ratio = Loss ratio + Management expenses ratio
Exchange rate as at 31/12/2020 : 1 AED = 0.27222 USD ; at 31/12/2021 : 1 AED = 0.27222 USD
| Company: Abu Dhabi National Insurance Company (ADNIC) |
| Date of creation: 1972 | |
| Classes of business: Life and non-life insurance | |
| Geographical presence: 14 branches in UAE and 1 in London - UK |
ADNIC: contact
| Head office | Building No. 403 P.O. Box 839, Abu Dhabi, UAE |
| Phone | + 971 8008040 / 02 408 01 00 |
| info@adnic.ae / adnic@adnic.ae | |
| Website | https://adnic.ae/ |
ADNIC: rating
| Agency | Rating | Outlook |
| Standard & Poor’s | A | Stable |
| CEO | A | Stable |
ADNIC: management
| Chairman of the board of directors | Sheikh Mohamed Bin Saif Al Nahyan |
| CEO | Ahmad Idris |
ADNIC: share capital, shareholder’s equity and shareholding
Figures in USD| 2021 | 2020 | ▲ | |
| Share capital | 155 165 400 | 155 165 400 | - |
| Shareholder’s equity | 770 778 136 | 682 474 323 | 12.94% |
| Main shareholders | % |
| Mamoura Diversified Global Holding | 24.76 |
| Sheikh Tahnoon Bin Mohammed Al-Nahyan | 5.30 |
| H. E. Khalaf Bin Ahmed Al-Otaibah | 10.11 |
| Others | 53.92 |
| S B R Investment | 6.87 |
ADNIC: turnover and result
Figures in USD
| 2021 | 2020 | ▲ | |
| Turnover | 1 161 665 367 | 1 092 199 178 | 6.36% |
| Net result | 109 377 996 | 100 992 531 | 8.3% |
Read also | ADNIC: Q1 2022 results
ADNIC: turnover breakdown per class of business
Figures in USD| 2021 | 2020 | ▲ | % 2021 | |
| Commercial lines of business (1) | 621 047 064 | 660 480 036 | -5.97% | 53.46% |
| Consumer line of business (2) | 540 618 303 | 431 719 142 | 25.22% | 46.54% |
| Total | 1 161 665 367 | 1 092 199 178 | 6.36% | 100% |
(1) Including marine cargo, marine hull, aviation, energy, property and engineering
(2) Including accident, motor and medical
ADNIC: main indicators
Figures in %| 2021 | 2020 | ▲ | |
| Loss ratio (1) | 65.03 | 62.38 | 4.24 |
| Management expenses ratio (1) | 23.87 | 27.44 | -13.01 |
| Combined ratio (1) | 93.22 | 89.82 | -1.03 |
| Shareholder's equity / Technical reserves | 67.17 | 57.47 | 16.88 |
| Shareholder's equity / Gross written premiums | 66.35 | 62.49 | 6.19 |
| Net result / Gross written premiums | 9.42 | 9.25 | 1.83 |
| Net result / Shareholder's equity (ROE) | 14.19 | 14.80 | -4.10 |
(1) Calculated for life and non life activities
Notes:
- Loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
- Net management expenses ratio = Overhead expenses and acquisition costs / Net written premiums
- Net combined ratio = Loss ratio + Management expenses ratio
Exchange rate as at 31/12/2020 : 1 AED = 0.27222 USD ; at 31/12/2021 : 1 AED = 0.27222 USD