UAE:ADNIC shows resilient financial results for first 3 quarters of 2026

Abu Dhabi National Insurance Company (ADNIC), a leading regional provider of multi-sector insurance services, has reported net profits after tax of AED356m ($97m) for the first nine months of this year (9M2026), which was flat compared to the AED354.7m recorded for the corresponding period last year.

ADNIC said, “The results reflect prudent recognition of provisions related to geopolitical risks, flood-related claims and the impact of short-term investment market volatility. ADNIC’s underlying business remained strong, supported by disciplined risk management and the resilience of its core operations.”

Insurance revenue grew by 12.9% to AED6.9bn in 9M2026, reflecting ADNIC’s ability to capitalise on opportunities across key sectors while continuing to provide comprehensive insurance protection for individuals and businesses.

Net insurance results amounted to AED361.5m in 9M2026, down by 5.4% compared to the corresponding period last year, due to an increase in claims. The combined ratio stood at 92.8%.

Net investment income for the first nine months of this year reached AED228.1m, registering growth of 2.1%. Despite temporary market volatility, the Group benefitted from solid growth in bond interest income and rental income, alongside robust disposal activity reflecting proactive and opportunistic portfolio management.

ADNIC also continued to advance its international growth strategy. Its branch in GIFT City, India, became fully operational on 1 April 2026 with an experienced local team, building on the company’s established cross-border reinsurance business. The branch’s formal launch, alongside Mutakamela’s business trajectory and positive outlook in Saudi Arabia, supports the Group’s efforts to continue to diversify revenue streams and strengthen its international footprint. In addition, ADNIC’s partnership with Allianz Trade Middle East, in its first year, has added value to the company’s product offerings and overall business performance.

While these strategic initiatives highlight ADNIC's expansion, the company has simultaneously navigated a challenging geopolitical landscape. The company said in its financial reports, “Heightened tensions in the Middle East as of early 2026 have severely impacted the insurance sector, primarily driving a sharp surge in premiums for war risk, marine, aviation, and political violence coverage due to elevated risk in shipping corridors. The market is experiencing tighter capacity and high volatility in specialised lines. ADNIC has proven its resilience to the major events.”

ADNIC added that it has adequate reinsurance protection for major events and has been able to maintain a solvency ratio which is higher than minimum regulatory requirements by incorporating the high standards of governance and risk management.

Commenting on ADNIC’s performance, Sheikh Mohamed Bin Saif Al-Nahyan, ADNIC Chairman, said, “Our resilient performance reflects the strength of our underlying business and our disciplined approach to managing risk. With a diversified portfolio and an expanding international footprint, we remain confident in our ability to support the economic ambitions of the UAE and the other markets we serve while creating sustainable value for our shareholders, customers and wider stakeholders.”