Abu Dhabi, UAE: Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, today announced resilient financial results for the first quarter of 2026, driven by a strategic focus on customer protection and revenue diversification to ensure long-term, sustainable value.

The Group delivered a solid net profit before tax of 99.5 million. The year-on-year decrease of 25.3% was primarily due to  prudent provisions linked to recent regional geopolitical developments, alongside short-term investment market volatility.  

Demonstrating its focus on customer protection, ADNIC achieved Gross Written Premiums (GWP) of AED 3,789 million, compared to AED 3,862 million in the same period last year. The Group’s underwriting performance remained strong, evidenced by a combined ratio of 95.7%. Net investment income for the three-month period was AED 65.1 million, a decline of 8.8% driven by temporary market volatility.

ADNIC’s expense ratio of 16% underscores the Group’s continued success in maintaining a lean and effective cost structure through disciplined operational management, even as the Group strategically invested in future business growth.

ADNIC began 2026 with the opening of a planned branch in India, located in GIFT City. The branch builds on ADNIC’s existing cross-border reinsurance business in India and follows its entry into the Saudi Arabia market, demonstrating the company’s wider international growth objectives. ADNIC’s India branch will also diversify the Group’s revenue while supporting clients in a high-growth market.

Commenting on ADNIC’s performance, Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “ADNIC demonstrated its resilience and strategic focus in the first quarter of 2026 by expanding into India to further diversify revenue streams. The Group’s positive outlook for the year is founded on the fundamental strength of our business model and an expected normalisation of market conditions. As a committed partner to the long-term economic visions of the UAE and the other markets it serves, ADNIC is well-positioned for continued success."

Charalampos Mylonas, Chief Executive Officer of ADNIC said: "Despite an operating environment characterised by regional uncertainty and short-term market volatility, ADNIC delivered solid and resilient results in the first quarter. Our performance reflects a continued focus on disciplined underwriting and strategic cost management, allowing us to protect our customers while delivering sustainable growth across our core insurance and investment activities."

Key financial highlights for Q1 ended 31 March 2026:

Total insurance revenue: For the three-month period ended 31 March 2026, ADNIC’s total insurance revenue reached AED 1.9 billion, compared to AED 2.0 billion in the same period last year.

Net insurance service result: Net insurance service result stood at AED 114.3 million, compared to AED 141.4 million for the same period in 2025.

Net income from investments: Net income from investments reached AED 65.1 million, compared to AED 71.4 million in the prior year period, reflecting the impact of temporary market volatility alongside stable recurring income streams.

Other operating expenses: Other operating expenses stood at AED 63.9 million, compared to AED 56.3 million for the same period last year, reflecting our continued focus on cost efficiency and disciplined expense management.

Profit before tax: Profit before tax for the period reached AED 99.5 million, compared to AED 133.3 million for the same period in 2025.

Profit after tax: Profit after tax stood at AED 87.9 million, compared to AED 119.6 million in the prior year period.

About Abu Dhabi National Insurance Company

Abu Dhabi National Insurance Company (ADNIC) PJSC is a composite insurance partner with long standing expertise in providing insurance products to corporates and individuals across the Middle East and North Africa (MENA) region and beyond. Founded in the United Arab Emirates (UAE) in 1972, ADNIC’s extensive network of branches and sales and service centres offers a wide range of products and services, including reinsurance solutions designed to meet the diverse and complex needs of clients. ADNIC also has a representative office in London, under the name ADNIC International Ltd, and is the majority owner of Mutakamela Insurance Company in the Kingdom of Saudi Arabia. ADNIC is a publicly listed company on Abu Dhabi Securities Exchange (ADX).

ADNIC holds strong international financial strength ratings, including an A rating from Standard & Poor’s and an A (Excellent) Financial Strength Rating from A.M. Best, both with a stable outlook.

For more information, please contact: media@adnic.ae