Abu Dhabi National Insurance Company

The Abu Dhabi National Insurance Company (ADNIC) reported a 12.18% increase in net profit for the year ended 31 December 2023, reaching AED 401.2 million. This growth was driven by exceptional underwriting and investment performance. Earnings per share also rose from AED 0.63 to AED 0.70. The company's combined ratio was 88%, reflecting its commitment to disciplined underwriting and prudent risk management. Net insurance service results reached AED 366.6 million. ADNIC's net investment income increased by 43.3% to AED 206.7 million, due to higher interest and coupon incomes, and favourable market-to-market gains. The company controlled operating costs growth, despite investments in tax implementation, digital advancements, customer experience and regional expansion. In 2023, ADNIC acquired Allianz Saudi Fransi Cooperative Insurance Company, which is expected to finalize in early 2024, strengthening its regional presence. The company also focused on sustainability, strengthening its green initiatives.

The Resolution No. 284 of 2024 temporarily suspends trading of shares of Abu Dhabi National Insurance Company (ADNIC) on the Abu Dhabi Securities Exchange (ADX). The suspension is due to a Board of Directors Meeting of ADNIC scheduled for 11:00 on 12th February 2024, which coincides with the trading session at ADX. Trading in ADNIC shares will be suspended from 09:00 on 12th February 2024 until ADX receives the meeting results. All department heads in ADX are required to execute this resolution in their respective fields. The resolution is to be circulated to the Securities and Commodities Authority (SCA), the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution has been approved by the authorized person and was issued on 12/02/2024.

The Board of Directors of the Abu Dhabi National Insurance Company PJSC held their second meeting of 2024 on February 12, 2023. The agenda included the approval of previous meeting minutes, the company's 2023 financial statements, and the proposed dividends for shareholders. The board also set the date and agenda for the Annual General Assembly Meeting, reviewed board committee recommendations, and approved the 2023 Corporate Governance Report. The meeting was officially signed off by Board Secretary Omar Khedr.

The Board of Directors of the Abu Dhabi National Insurance Company PJSC held a meeting on February 5, 2024. Seven board members were present during the meeting, which started at 11:00am and ended at 12:00pm. The board approved the meeting agenda, appointed Mr. Omar Khedr as the Board Secretary, and approved the minutes of their previous meeting. They also discussed the company's budget and business plan for 2024-2026 and approved the recommendations of the board committees.

The Board of Directors Meeting of Abu Dhabi National Insurance Company PJSC No. 1/2024, which was originally scheduled for 23rd January 2024 at 11:00 am, has been rescheduled to 5th February 2024 at 11:00 am. The information was conveyed by Omar Khedr, Vice President - Legal, in a letter to the Abu Dhabi Securities Exchange. The Securities and Commodities Authority and the Central Bank of the UAE were also copied on the correspondence.

The Abu Dhabi National Insurance Company PJSC held its Board of Directors Meeting No. 1/2024 on Tuesday, 23rd January 2024. The agenda included the adoption of the meeting's agenda, appointment of Mr. Omar Khedr as the Board Secretary, approval of the previous meeting's minutes, review and approval of the company's budget and business plan for 2024-2026, review of the board committees' recommendations, and discussion of other matters. The meeting was authorized by Omar Khedr, the Vice President - Legal.

The text provides the principal business address for Abu Dhabi National Insurance Company PJSC and its subsidiary. The address is P.O. Box: 839, Abu Dhabi, UAE. The text also refers to condensed consolidated interim financial information dated 30 September 2023.

The text provides the condensed consolidated interim financial information of Abu Dhabi National Insurance Company PJSC and its subsidiary as of 30th September 2023. The principal business address of the company is mentioned as P.O. Box: 839, Abu Dhabi, UAE.