Adnic posts Dh3.4m loss

Dubai - The insurance company has reported a net loss of Dh334.5 million for 2015, compared to a net loss of Dh280.4 million for 2014.



By Reuters

Published: Mon 15 Feb 2016, 11:00 PM

Last updated: Tue 16 Feb 2016, 7:51 AM

 Abu Dhabi National Insurance Company, or Adnic reported a net loss of Dh3.4 million for the period October to December 2015 as compared to net loss of Dh331.1 million reported for the period January to September 2015.
The insurance company has reported a net loss of Dh334.5 million for 2015, compared to a net loss of Dh280.4 million for 2014.
For the full year, Adnic's gross premium written was Dh2.29 billion compared to Dh2.63 billion in 2014. The overall premium retention ratio for the company reached 48 per cent for the year 2015 compared to 54 per cent for 2014.
For the year 2015, Adnic reported a net underwriting loss of Dh229 million, against a net underwriting loss of Dh157 million for 2014.
Adnic's net investment and other income was Dh102 million for 2015 down from Dh106 million for 2014.
- business@khaleejtimes.com 


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