ZAWYA: ADNIC delivers resilient Q1’26 performance with net profit before tax of AED 99.5mln

About this update from Abu Dhabi National Insurance Company

Abu Dhabi, UAE: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, today announced resilient financial results for the first quarter of 2026, driven by a strategic focus on customer protection and revenue diversification to ensure long-term, sustainable value.The Group delivered a solid net profit before tax of 99.5 million. The year-on-year decrease of 25.3% was primarily due to prudent provisions linked to recent regional geopolitical developments, alongside short-term investment market volatility.Demonstrating its focus on customer protection, ADNIC achieved Gross Written Premiums (GWP) of AED 3,789 million, compared to AED 3,862 million in the same period last year. The Group’s underwriting performance remained strong, evidenced by a combined ratio of 95.7%. Net investment income for the three-month period was AED 65.1 million, a decline of 8.8% driven by temporary market volatility.ADNIC’s expense ratio of 16% underscores the Group’s continued success in maintaining a lean and effective cost structure through disciplined operational management, even as the Group strategically invested in future business growth.ADNIC began 2026 with the opening of a planned branch in India, located in GIFT City. The branch builds on ADNIC’s existing cross-border reinsurance business in India and follows its entry into the Saudi Arabia market, demonstrating the company’s wider international growth objectives. ADNIC’s India branch will also diversify the Group’s revenue while supporting clients in a high-growth market.Commenting on ADNIC’s performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “ADNIC demonstrated its resilience and strategic focus in the first quarter of 2026 by expanding into India to further diversify revenue streams. The Group’s positive outlook for the year is founded on the fundamental strength of our business model and an expected normalisation of market conditions. As a committed partner to the long-term economic visions of the UAE and the other markets it serves, ADNIC is well-positioned for continued success."Charalampos Mylonas, Chief Executive Officer of ADNIC said: "Despite an operating environment characterised by regional uncertainty and short-term market volatility, ADNIC delivered solid and resilient results in the first quarter. ...

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