09 June 2015
Abu Dhabi National Insurance Company (ADNIC), one of the region's leading multi-line insurance providers for individuals and corporates, today announced a partnership with Emirates Development Bank (EDB) to provide comprehensive protection to the Bank's housing finance customers.

The insurance policies that ADNIC will provide will cover the bank's UAE National Customers in the unfortunate event of death or disability, while also providing them property cover against all risks during the construction and post-completion phase.

Commenting on this agreement, Mr. Ahmad Idris said: "We are delighted to enter into this partnership with EDB and to support the Bank's initiative to help UAE nationals secure housing finance."

Commenting on the agreement, H.E. Rashid Mahboob, Acting Chief Executive Officer of Emirates Development Bank (EDB) commended the role that Abu Dhabi National Insurance Company (ADNIC) plays in the insurance sector and expressed his gratitude in signing this agreement. The agreement aims at providing integrated insurance services to facilitate procedures for the clients according to the highest standards and management practices.

He also said, "The signing of this agreement comes into force to empower the role of the bank that operates under a clear, well-defined, and effective vision and mission, which will in return help build a national economy that is distinguished for its diversity, innovation, and sustainable growth to vital sectors. In addition, this will allow UAE nationals to attain adequate housing and establish developmental projects that ensure a sustainable high standard of living for UAE nationals. The bank also offers financing and savings solutions to help nationals obtain suitable accommodation at reasonable costs, as well as implement developmental projects in the country."

"Noting, Emirates Development Bank (EDB) offers innovative banking solutions that achieves sustainable growth to Small and Medium Enterprises (SMEs). EDB seeks to build strategic alliances with several stakeholders to encourage UAE nationals on establishing their own businesses. "

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About Abu Dhabi National Insurance Company
Abu Dhabi National Insurance Company (ADNIC) PJSC is a UAE home-grown, publicly listed, multi-line insurance provider. Established in 1972, ADNIC has a wide network of branches across the UAE as well as sales and service centers across the country. It is listed on the Abu Dhabi Securities Exchange (ADX) with a market capitalization of AED 1.6 bn and has assets in excess of AED 5.9 bn. ADNIC provides insurance products for individuals including home, life, medical, motor, accident and travel insurance. Corporate products include group medical, life, property, travel, financial lines, aviation, engineering, energy and marine insurance. The Company has gained significant global recognition, attaining a rating of A- from S&P and a number of awards, including from Forbes Middle East, INSUREX and the World Finance Insurance Awards.

For more information, please contact:
Mrs. Dana Hudairi
Senior Corporate Marketing & Communications Manager
Abu Dhabi National Insurance Company
M: +971 50 6117968
D: +971 2 4080419
F: +971 2 4080625
Email: d.hudairi@adnic.ae
www.adnic.ae

© Press Release 2015