Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) on Wednesday reported a 3.7% year-on-year increase in its profits for the full-year 2018.
Net profits amounted to AED 235.6 million in 2018, compared to AED 227.3 million in 2017, according to a filing to the Abu Dhabi Securities Exchange (ADX).
Moreover, total investments of the insurance company including cash in time deposits, bank accounts and investment properties increased by 10.4% to AED 3.75 billion by the end of 31 December 2018, compared to ABD 3.39 billion as of 31 December 2017.
The company’s total assets increased by 8.3% year-on-year to AED 7.25 billion in 2018.
Moreover, ADNIC’s board recommended distributing cash dividends worth 30 fils per share for 2018, representing 30% of the capital.
By the end of Tuesday’s session, ADNIC’s stock rose 4.17% at AED 3.75.
