Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi line insurance providers for both corporates and individuals, delivered a solid net profit before tax of AED225.1m ($61.3m) for the first half of 2026. The figure is 13.8% lower compared to AED261.2m in 1H2025.
ADNIC said that its financial results for 1H2026 reflected disciplined underwriting, strategic diversification and continued international expansion despite a challenging operating environment.
The results primarily reflect prudent recognition of provisions related to geopolitical risks, flood-related claims and the impact of short-term investment market volatility. Despite these external headwinds, ADNIC's underlying business remained resilient, supported by disciplined underwriting, prudent risk management and the continued strength of its core operations.
Demonstrating its continued focus on customer protection, ADNIC achieved Gross Written Premiums (GWP) of AED6,135.4m, supported by continued growth from several of the Group's strategic clients, alongside increased business generated from major construction projects. The Group maintained strong underwriting discipline, delivering a combined ratio of 95.2%, resulting in a net insurance service result of AED215.4m.
Net investment income for the six month period reached AED150.4m, benefiting from solid growth in bond interest income and rental income, alongside robust disposal activity that reflected proactive portfolio management despite periods of temporary market volatility.
During the first half of 2026, ADNIC continued to execute its strategic growth agenda through international expansion and strategic partnerships. Effective 1 April 2026, the Company's branch in GIFT City, India, became fully operational with an experienced local team in place, building on its established cross border reinsurance business while further diversifying revenue streams and strengthening ADNIC's presence in one of the world's fastest growing insurance markets. During the second quarter, ADNIC also signed a strategic agreement with the Ministry of Foreign Affairs to provide a tailored insurance programme for employees and their families, reinforcing the company's commitment to delivering innovative insurance solutions while supporting the UAE's national priorities and the objectives of the Year of the Family.
Commenting on ADNIC's performance, Sheikh Mohamed Bin Saif Al Nahyan, ADNIC Chairman, said, "During the first half of 2026, ADNIC remained focused on protecting our customers, strengthening our market position and advancing our long-term growth strategy through disciplined underwriting, strategic diversification and international expansion. The underlying strength of our business remains clear. With a diversified portfolio, a disciplined underwriting approach and an expanding international footprint, we remain well positioned to deliver sustainable long term value for our shareholders, customers and the markets we serve."
Mr Jugal Madaan, Acting CEO of ADNIC, said, "As we look ahead, our diversified portfolio, expanding international footprint and strong customer relationships provide a solid foundation for continued sustainable growth."
Key financial highlights for six months ended 30 June 2026
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Total insurance revenue: AED4.1bn, compared to AED4bn for 1H2025.
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Net insurance service result: AED215.4 m, compared to AED258.5m for 1H2025.
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Net income from investments: AED150.4m, compared to AED142.4m for 1H2025.
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Other operating expenses: AED115.5m, compared to AED 110.8m for 1H2025.
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Profit before tax: reached AED225.1m, compared to AED261.2m for 1H2025.
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Profit after tax stood at AED201m, compared to AED235.3m for 1H2025.
Founded in the 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. ADNIC also has a representative office in London, under the name ADNIC International, and is the majority owner of Mutakamela Insurance Company in the Kingdom of Saudi Arabia.