Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers, has announced a net profit before tax of AED99.5m ($27.1m) for 1Q2026.
The pre-tax net results decreased by 25.3% year on year primarily due to prudent provisions were made during the quarter, which were linked to ongoing regional geopolitical developments, alongside short-term investment market volatility, the insurer said.
ADNIC also said that it showed “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”.
Demonstrating its focus on customer protection, ADNIC achieved Gross Written Premiums of AED3,789m, compared to AED3,862m in the corresponding quarter last year. The Group’s underwriting performance remained strong, evidenced by a combined ratio of 95.7% (1Q2025: 92.6%). Net investment income for the three-month period was AED65.1m, 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."
Mr Charalampos Mylonas, CEO 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."
Other key financial highlights for the quarter ended 31 March 2026
Total insurance revenue: For the three-month period ended 31 March 2026, ADNIC’s total insurance revenue reached AED1.9bn, compared to AED2.0bn in the same period last year.
Net insurance service result: Net insurance service result stood at AED114.3m, compared to AED141.4m for the corresponding quarter in 2025.
Net income from investments: Net income from investments reached AED65.1m, compared to AED71.4m in 1Q2025, reflecting the impact of temporary market volatility alongside stable recurring income streams.
Other operating expenses: Other operating expenses stood at AED63.9m, compared to AED56.3m for 1Q2025, reflecting ADNIC’s continued focus on cost efficiency and disciplined expense management.
Profit after tax: Profit after tax stood at AED87.9m, compared to AED119.6m in 1Q2025.