Abu Dhabi National Insurance Company
AADX:ADNIC6.90
AED
0.00
(0.00%)
ISIN
AEA001101012
Return %
Stock
S&P 500
1Y
-4.56
14.20
3Y
15.77
81.12
5Y
28.25
68.34
Capital Structure
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- CEO
- Jugal Kishore Madaan
- Sector
- Finance
- Industry
- Multi-line insurance
- Address
- Abu Dhabi United Arab Emirates
- IPO Date
- Jul 6, 2003
- Website
- adnic.ae
- Similar Companies
- Business
- Abu Dhabi National Insurance Company PJSC (ADNIC) is a United Arab Emirates-based multi-line insurance and reinsurance provider engaged in underwriting general, life, and health insurance products for individual, commercial, and governmental clients across the Middle East and North Africa region. Founded in 1972 and headquartered in Abu Dhabi, United Arab Emirates, the company operates primarily through two core business divisions: Consumer and Commercial. The Consumer division provides an array of personal insurance solutions, including comprehensive and third-party motor insurance; individual and family health insurance under the SHIFA product suite; term life and personal accident protection; home and contents insurance; domestic helper coverage; travel insurance; and specialized personal lines including yacht, pleasure craft, and pet insurance. The Commercial division delivers corporate risk solutions across diverse industries, comprising commercial property and business interruption insurance; onshore and offshore energy insurance covering oil, gas, petrochemical, and renewable power operations; marine cargo, hull, and machinery insurance; aviation hull, spares, and airport liability coverage; engineering policies including Contractors All Risks, Erection All Risks, and machinery breakdown; corporate liability lines including public liability, product liability, and directors and officers liability; group medical and life schemes; cyber risk insurance; and trade credit solutions. In addition to primary underwriting, the company provides regional and international facultative and treaty reinsurance services. In recent strategic developments, ADNIC completed the acquisition of a 51 percent majority stake in Allianz Saudi Fransi Cooperative Insurance Company in the Kingdom of Saudi Arabia, subsequently rebranding the subsidiary as Mutakamela Insurance Company to accelerate its regional expansion across the Gulf Cooperation Council. Furthermore, the company entered into a strategic partnership with Allianz Trade to deliver enhanced trade credit insurance solutions in the United Arab Emirates, launched life insurance programs in collaboration with the Sheikh Zayed Housing Program, implemented an artificial intelligence center of excellence to automate core underwriting and claims processes, and secured regulatory approval to establish a reinsurance operation in GIFT City, India.