Abu Dhabi: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, today announces the appointment of Mr. Jugal Madaan as Acting CEO. He will succeed Mr. Charalampos Mylonas, who resigned on Thursday, 4th June 2026. The selection of Mr. Jugal Madaan from within ADNIC is the outcome of a carefully designed leadership succession plan, ensuring continuity and long-term strategic execution.
Mr. Jugal Madaan joined ADNIC in 2007 and most recently served as Chief Underwriting & Strategic Accounts Officer, playing a key role in driving the company’s strategic expansion, underwriting discipline and commercial growth. He was previously responsible for ADNIC's domestic and international Commercial Lines division, and prior to that served as Chief Underwriting Officer for the property and energy business.
H.E Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “The leadership transition will ensure continuity in the execution of ADNIC’s strategic priorities and growth agenda, while reinforcing its commitment to creating sustainable value for all stakeholders and supporting national development priorities. As the UAE’s leading national insurer, ADNIC continues to evolve alongside the nation, reinforcing its capabilities and maintaining the agility required to support customers in a rapidly changing environment, guided by the vision and aspirations of the UAE’s wise leadership. ADNIC will continue to advance its growth strategy, building on its strong performance in the UAE and its strategic expansion into key markets. The company remains focused on executing its long-term strategy of revenue diversification, disciplined underwriting and operational efficiency. ADNIC will continue building on its legacy as the UAE’s insurer of choice, defined by reliability, customer focus and long-term partnerships.”
As ADNIC enters its next phase of growth, it looks ahead with confidence, focused on strengthening its capabilities, embracing innovation and adapting to the evolving needs of its customers and markets. Guided by a clear strategic vision, ADNIC is well positioned to build on its achievements and capitalize on future opportunities.
About Abu Dhabi National Insurance Company
Abu Dhabi National Insurance Company (ADNIC) PJSC is a composite insurance partner with long standing expertise in providing insurance products to corporates and individuals across the Middle East and North Africa (MENA) region and beyond. Founded in the United Arab Emirates (UAE) in 1972, ADNIC’s extensive network of branches and sales and service centres offers a wide range of products and services, including reinsurance solutions designed to meet the diverse and complex needs of clients. ADNIC also has a representative office in London, under the name ADNIC International Ltd, and is the majority owner of Mutakamela Insurance Company in the Kingdom of Saudi Arabia. ADNIC is a publicly listed company on Abu Dhabi Securities Exchange (ADX).
ADNIC holds strong international financial strength ratings, including an A rating from Standard & Poor’s and an A (Excellent) Financial Strength Rating from A.M. Best, both with a stable outlook.
For more information, please contact: media@adnic.ae
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