emirates7 - Abu Dhabi National Insurance Company (ADNIC) has reported impressive financial results for the first quarter of 2025, achieving a net profit before tax of AED133.3 million, a 19.2% increase compared to the same period in 2024. This growth is attributed to strong performance in both underwriting and investments.

ADNIC successfully completed the integration and rebranding of Allianz Saudi Fransi Cooperative Insurance Company (ASF), after acquiring a 51% stake in ASF in 2024. ASF now operates as Mutakamela Insurance Company under ADNIC’s guidance, enhancing the company’s presence in Saudi Arabia and supporting its goal of becoming a leading insurance provider across the GCC.

The financial results now fully reflect Mutakamela’s performance, with the company contributing to ADNIC’s long-term growth prospects.

Sheikh Mohamed bin Saif Al-Nahyan, Chairman of ADNIC, highlighted, "ADNIC started 2025 on a strong note, leveraging the progress made in 2024 to achieve solid growth across core operations while maintaining rigorous underwriting standards. Despite ongoing macroeconomic and industry challenges, we continue to demonstrate resilience and agility. Our strategic expansion in Saudi Arabia is a clear reflection of our aim to become the region's leading insurer."

Charalampos Mylonas, CEO of ADNIC, added, "We’ve had a strong start to the year, driven by solid financial results supported by effective underwriting, cost management, and strategic growth."