Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) registered a 45.5% hike in net profits to AED 282.8 million in the first nine months of 2020 from AED 194.4 million during the corresponding period of 2019.
The company’s net underwriting income rose by 44% to AED 394.71 million in the January-September period of 2020 from AED 274.1 million in the corresponding period of 2019, according to the company’s consolidated interim financials for the period ended on 30 September 2020.
In addition, the company recorded AED 1.034 billion in net written premium during the first nine months of 2020, up from AED 917.2 million in the year-ago period.
The basic and diluted earnings per share (EPS) stood at AED 0.50 in the January-September period of 2020, versus AED 0.34 in the corresponding period of the earlier year.
During the third quarter (Q3) of 2020, the company’s net profits jumped to AED 93.18 million from AED 75.81 million in the same quarter of 2019.
It is noteworthy to mention that in the first half (H1) of 2020, the company’s net profits of ADNIC jumped by 59.9% to AED 189.7 million, compared to AED 118.6 million in the corresponding period of 2019.
