ADNIC reports strong nine-month 2026 performance with net profit after tax of AED 356 million
(MENAFN- OMC) Abu Dhabi, UAE; 11 November 2026: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, today announced its financial results for the nine-month period ended 30 September 2026, reflecting disciplined underwriting, strategic diversification and continued international expansion.
The Group reported a net profit after tax of AED 356 million, similar to AED 354.7 million reported for the same period last year. The results reflect prudent recognition of provisions related to geopolitical risks, flood-related claims and the impact of short-term investment market volatility. ADNIC’s underlying business remained strong, supported by disciplined risk management and the resilience of its core operations.
Insurance revenue grew by 12.9% to AED 6.9 billion, reflecting the Group’s ability to capture opportunities across key sectors while continuing to provide comprehensive protection to individuals and businesses. ADNIC maintained strong underwriting performance, with a combined ratio of 92.8%. Net insurance service results stood at AED 361.5 million, down 5.4% year-on-year due to elevated claims activity. Throughout the period, the Group continued to meet its commitments to policyholders.
Net investment income for the nine-month period increased by 2.1% to AED 228.1 million. Despite temporary market volatility, the Group benefited from solid growth in bond interest income and rental income, alongside robust disposal activity reflecting proactive and opportunistic portfolio management.
ADNIC’s financial strength was further reinforced by AM Best’s affirmation of its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent), both with a stable outlook, in September 2026. The ratings reflect the company’s very strong balance sheet, strong operating performance and appropriate enterprise risk management. S&P Global Ratings also affirmed ADNIC’s “A” long-term issuer credit and insurer financial strength ratings with a stable outlook earlier in the year.
ADNIC also continued to advance its international growth strategy. Its branch in GIFT City, India, became fully operational on 1 April 2026 with an experienced local team, building on the company’s established cross-border reinsurance business. The branch’s formal launch, alongside Mutakamela’s business trajectory and positive outlook in Saudi Arabia, supports the Group’s efforts to continue to diversify revenue streams and strengthen its international footprint.
ADNIC’s partnership with Allianz Trade Middle East Limited, in its first year, has added value to the company’s product offerings and overall business performance.
Commenting on ADNIC’s performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “Throughout the first nine months of 2026, ADNIC remained focused on protecting our customers, strengthening our market position and advancing our long-term growth strategy. Our resilient performance reflects the strength of our underlying business and our disciplined approach to managing risk. With a diversified portfolio and an expanding international footprint, we remain confident in our ability to support the economic ambitions of the UAE and the other markets we serve while creating sustainable value for our shareholders, customers and wider stakeholders.”
Jugal Madaan, Acting Chief Executive Officer of ADNIC, said: “Our performance reflects our continued focus on underwriting discipline, advanced analytics and operational excellence. We continued to meet our commitments to policyholders while navigating elevated claims activity and temporary investment market volatility. The operational launch of our India branch and Mutakamela’s business in Saudi Arabia further support our diversification strategy. Looking ahead, our outlook remains positive, supported by the strength of our underlying business and an expected normalisation in performance as conditions stabilise. We will continue investing in our people, technology and capabilities to deliver sustainable value for our customers and shareholders.”
Key financial highlights for the nine-month period ended 30 September 2026:
•Total insurance revenue: ADNIC’s total insurance revenue stood at AED 6.9 billion, compared to AED 6.1 billion for the same period in 2025.
•Net insurance service result: ADNIC’s net insurance service result stood at AED 361.5 million, compared to AED 382.3 million for the same period in 2025.
•Net income from investments: ADNIC’s net income from investments stood at AED 228.1 million, compared to AED 223.3 million for the same period in 2025.
•Other operating expenses: Other operating expenses stood at AED 163.2 million, compared to AED 172.4 million for the same period in 2025.
•Profit before tax: Profit before tax reached AED 394 million, compared to AED 395 million for the same period in 2025.
•Profit after tax: Profit after tax stood at AED 356 million, compared to AED 354.7 million for the same period in 2025.
-ENDS-
The Group reported a net profit after tax of AED 356 million, similar to AED 354.7 million reported for the same period last year. The results reflect prudent recognition of provisions related to geopolitical risks, flood-related claims and the impact of short-term investment market volatility. ADNIC’s underlying business remained strong, supported by disciplined risk management and the resilience of its core operations.
Insurance revenue grew by 12.9% to AED 6.9 billion, reflecting the Group’s ability to capture opportunities across key sectors while continuing to provide comprehensive protection to individuals and businesses. ADNIC maintained strong underwriting performance, with a combined ratio of 92.8%. Net insurance service results stood at AED 361.5 million, down 5.4% year-on-year due to elevated claims activity. Throughout the period, the Group continued to meet its commitments to policyholders.
Net investment income for the nine-month period increased by 2.1% to AED 228.1 million. Despite temporary market volatility, the Group benefited from solid growth in bond interest income and rental income, alongside robust disposal activity reflecting proactive and opportunistic portfolio management.
ADNIC’s financial strength was further reinforced by AM Best’s affirmation of its Financial Strength Rating of A (Excellent) and Long-Term Issuer Credit Rating of “a” (Excellent), both with a stable outlook, in September 2026. The ratings reflect the company’s very strong balance sheet, strong operating performance and appropriate enterprise risk management. S&P Global Ratings also affirmed ADNIC’s “A” long-term issuer credit and insurer financial strength ratings with a stable outlook earlier in the year.
ADNIC also continued to advance its international growth strategy. Its branch in GIFT City, India, became fully operational on 1 April 2026 with an experienced local team, building on the company’s established cross-border reinsurance business. The branch’s formal launch, alongside Mutakamela’s business trajectory and positive outlook in Saudi Arabia, supports the Group’s efforts to continue to diversify revenue streams and strengthen its international footprint.
ADNIC’s partnership with Allianz Trade Middle East Limited, in its first year, has added value to the company’s product offerings and overall business performance.
Commenting on ADNIC’s performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “Throughout the first nine months of 2026, ADNIC remained focused on protecting our customers, strengthening our market position and advancing our long-term growth strategy. Our resilient performance reflects the strength of our underlying business and our disciplined approach to managing risk. With a diversified portfolio and an expanding international footprint, we remain confident in our ability to support the economic ambitions of the UAE and the other markets we serve while creating sustainable value for our shareholders, customers and wider stakeholders.”
Jugal Madaan, Acting Chief Executive Officer of ADNIC, said: “Our performance reflects our continued focus on underwriting discipline, advanced analytics and operational excellence. We continued to meet our commitments to policyholders while navigating elevated claims activity and temporary investment market volatility. The operational launch of our India branch and Mutakamela’s business in Saudi Arabia further support our diversification strategy. Looking ahead, our outlook remains positive, supported by the strength of our underlying business and an expected normalisation in performance as conditions stabilise. We will continue investing in our people, technology and capabilities to deliver sustainable value for our customers and shareholders.”
Key financial highlights for the nine-month period ended 30 September 2026:
•Total insurance revenue: ADNIC’s total insurance revenue stood at AED 6.9 billion, compared to AED 6.1 billion for the same period in 2025.
•Net insurance service result: ADNIC’s net insurance service result stood at AED 361.5 million, compared to AED 382.3 million for the same period in 2025.
•Net income from investments: ADNIC’s net income from investments stood at AED 228.1 million, compared to AED 223.3 million for the same period in 2025.
•Other operating expenses: Other operating expenses stood at AED 163.2 million, compared to AED 172.4 million for the same period in 2025.
•Profit before tax: Profit before tax reached AED 394 million, compared to AED 395 million for the same period in 2025.
•Profit after tax: Profit after tax stood at AED 356 million, compared to AED 354.7 million for the same period in 2025.
-ENDS-
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