ADNIC shareholders approve cash dividends of 40% at the Annual General Meeting

Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for corporates and individuals, has approved the distribution of 40% cash dividends (AED 0.40 per share, implying total cash dividends of AED 228 million) for the financial year ended 31 December 2022, after concluding its Annual General Meeting (AGM) today. 

Shareholders discussed and approved all items on the agenda for the AGM, including ADNIC’s financial statements for the year ended 31 December 2022. 

Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of ADNIC, said: “We are pleased to announce cash dividends totalling AED 228 million for the year 2022, reflecting our unwavering commitment to delivering consistent returns on their investments. Our robust financial performance is a direct result of our evolving business strategy, the dedication of our employees and the continued trust of our shareholders.”

Sheikh Mohamed Bin Saif Al-Nahyan added: “The year 2022 marked a new milestone for our company. We achieved a remarkable growth in our gross written premiums by 20.1% to reach AED 5.13 billion. Moving forward, we will continue to expand our market footprint and explore new business opportunities that lead to further growth.”

Charalampos Mylonas, CEO of ADNIC, said: “ADNIC strengthened its market leading position in 2022 through consistent and systematic leveraging of its core competencies. Strong operating performance despite an increasingly challenging competitive landscape yielded a net profit of AED 377.9 million. This reinforces our long-term commitment to continue delivering superior value to both our customers and shareholders. We will continue to embrace new technologies required to maintain our customer centric nature whilst enabling us to remain ahead of the curve in a continuously evolving market.”  

Charalampos Mylonas, added: “We remain dedicated to supporting various communities across the UAE through multiple initiatives and are committed to supporting the national agenda in promoting a more sustainable future during the ‘Year of Sustainability.”