Company Overview
History and Foundation
Abu Dhabi National Insurance Company is a multi-line regional insurance provider. It has a long history of providing insurance and reinsurance services to individuals and corporations across the Middle East. The company was originally founded in the United Arab Emirates (UAE) in 1972 and has since grown to become one of the largest insurers in the Gulf Cooperation Council (GCC) region.
Mission and Values
ADNIC’s mission is to provide innovative insurance solutions that maintain the highest standards of professionalism and integrity. The company’s core values include customer focus, teamwork, innovation, and accountability.
Headquarters and Geographical Presence
ADNIC is in Abu Dhabi, the capital city of the UAE. The company has a strong presence in the MENA region and operates through branches and subsidiaries in key markets such as Oman, Qatar, and Bahrain.
ADNIC has a diverse portfolio of insurance products and services.
The company’s commitment to innovation, customer focus, and accountability has helped it maintain its position as a leading insurer in the GCC region.
Financial Performance
Abu Dhabi National Insurance Company (ADNIC) has a strong record of solid financial performance and healthy shareholder returns. The company’s long-term strategy emphasizes customer satisfaction.
Net Profit and Investment Income
ADNIC has reported a net profit of AED 371 million for the year ending 31 December 2020 and a net profit of Dhs377.9 million for the year ending 31 December 2022. Its sustained growth across critical metrics reflects the company’s strong performance. ADNIC’s investment income has contributed significantly to its net profit.
Gross Written Premium
ADNIC’s gross written premiums increased by 20.1% to Dhs5.13 billion for the entire year ended 31 December 2022, compared to Dhs4.27 billion for the same period in 2021.
Credit Ratings
These ratings reflect the company’s strong balance sheet, operating performance, and favorable business profile. ADNIC’s financial strength and stability reassure its customers that it is well-positioned to meet its obligations.
Products and Services
Consumer Insurance
Abu Dhabi National Insurance Company (ADNIC) offers a range of consumer insurance products to individuals, families, and businesses. ADNIC’s consumer insurance products include motor insurance, home insurance, travel insurance, personal accident insurance, and more. These products provide comprehensive coverage and protection against various risks and uncertainties individuals and businesses face.
ADNIC’s motor insurance policies cover third-party liability, own damage, and personal accident coverage for drivers and passengers.
Reinsurance
The company’s products include treaty and facultative reinsurance and help insurance companies manage their risks and capital requirements.
ADNIC’s treaty reinsurance products automatically cover a broad range of risks, while its facultative reinsurance products cover specific risks. The company’s reinsurance solutions meet the needs of each insurance company.
Medical Insurance
ADNIC offers a range of medical insurance products to individuals and businesses. The company’s medical insurance products cover inpatient and outpatient treatment, medical emergencies, and evacuation. ADNIC’s medical insurance products provide individuals and businesses with comprehensive coverage and peace of mind.
ADNIC’s medical insurance products include individual and family plans and corporate plans for businesses of all sizes.
ADNIC is a leading insurance provider in the MENA region, offering a range of consumer insurance, reinsurance, and medical insurance products to individuals, families, and businesses. The company’s products provide comprehensive coverage and protection against various risks and uncertainties that individuals and companies may face.
Sustainability and Social Responsibility
Abu Dhabi National Insurance Company (ADNIC) is committed to sustainability and social responsibility, actively promoting these values in its operations. The company’s CSR initiatives positively impact society, while its Social Investment Fund supports various community projects.
CSR Initiatives
ADNIC has implemented various CSR initiatives across the UAE, including education and health programs, environmental sustainability, and community engagement. The company’s initiatives create long-term value for the company and its community.
Partnership with Emirates Nature-WWF
ADNIC’s partnership with Emirates Nature-WWF is a testament to its commitment to environmental sustainability. The partnership focuses on various initiatives, including sustainable energy and development projects. ADNIC has also supported Emirates Nature-WWF’s efforts to raise awareness about climate change and promote conservation efforts.
Net Zero Goals
ADNIC has set ambitious net-zero goals for its operations, aiming to achieve carbon neutrality by 2050. ADNIC is also exploring new technologies, such as renewable energy sources, to help achieve its net-zero goals.
In conclusion, ADNIC’s commitment to sustainability and social responsibility is evident in its CSR initiatives, partnership with Emirates Nature-WWF, and net-zero goals. The company’s efforts to create long-term value for the company and its community are commendable.
Innovation and Technology
Abu Dhabi National Insurance Company (ADNIC) has always been at the forefront of innovation and technology. The company has adopted various technological advancements to improve its services and streamline its processes.
ADNIC has embraced blockchain technology to store customer data securely and transparently. This technology has helped the company reduce fraud risk and improve claims processing efficiency. ADNIC has also partnered with Addenda Technologies, a blockchain technology start-up, to bring innovation to the claims process.
In addition to blockchain technology, ADNIC has also implemented other technological solutions to improve its services. The company has developed a mobile application that allows customers to access their insurance policies, make claims, and track their claims’ status.
ADNIC has also invested in artificial intelligence (AI) to improve its underwriting process. The company uses AI to analyze customer data and provide personalized insurance solutions. ADNIC’s commitment to innovation and technology has helped the company stay ahead of the competition and provide its customers with the best possible services. The company’s investment in blockchain technology, mobile applications, and AI has improved its efficiency, reduced the risk of fraud, and increased customer satisfaction.
Regulatory Compliance and Industry Relations
Abu Dhabi National Insurance Company (ADNIC) is a leading insurance company in the UAE that complies with various regulatory requirements and industry standards. This section will discuss ADNIC’s regulatory compliance and industry relations concerning the Central Bank of the UAE and the Abu Dhabi Securities Exchange.
Central Bank of the UAE
ADNIC complies with the Central Bank’s regulations and guidelines, which include capital adequacy, solvency, liquidity, and risk management requirements.
ADNIC has maintained a strong relationship with the Central Bank of the UAE and is famous for its compliance with regulatory requirements. In 2019, ADNIC received an award from the Central Bank for its compliance with the UAE Insurance Authority’s regulations on the governance of insurance companies.
Abu Dhabi Securities Exchange
ADNIC is on the Abu Dhabi Securities Exchange (ADX), the UAE’s primary securities exchange. As a publicly traded company, ADNIC is subject to the rules and regulations of the ADX, which include requirements for financial reporting, disclosure, and corporate governance.
Employment Opportunities
Abu Dhabi National Insurance Company (ADNIC) is committed to becoming the employer of choice in the UAE insurance industry. As one of the largest businesses in the country, ADNIC can offer plenty of scope for career growth, including role transfers, training opportunities, and career development programs. The company’s people-first way of thinking appears in its core strategic aim to help employees achieve their personal goals, realize their full potential, and make a difference.
Executive and Management Jobs
ADNIC offers a range of executive and management jobs, including accountant jobs, analyst jobs, manager jobs, safety officer jobs, project manager jobs, sales manager jobs, director jobs, and assistant manager jobs.
Specialized and Technical Jobs
ADNIC also offers specialized and technical jobs, including engineer, medical officer, specialist, medical coder, and pharmacist jobs. These positions require candidates with specific technical skills and qualifications. ADNIC provides training and development opportunities to help employees stay updated with industry trends and developments.
Customer Service and Support Jobs
ADNIC is committed to providing excellent customer service and support. The company offers a range of customer service and support jobs, including customer service representative jobs, receptionist jobs, administrator jobs, assistant jobs, officer jobs, and storekeeper jobs. These positions require candidates with strong communication skills. ADNIC values customer feedback and encourages employees to provide suggestions for improving customer service and support.
In summary, ADNIC offers a range of employment opportunities for candidates with different skills, qualifications, and backgrounds. The company is committed to providing a supportive and inclusive work environment that values diversity, encourages innovation, and promotes career growth.
Corporate Achievements
Awards and Recognitions
Abu Dhabi National Insurance Company (ADNIC) has been famous for its exceptional performance and innovative products in the insurance industry. In 2020, the company was awarded the “Most Innovative Insurance Product” by the Global Banking & Finance Awards. ADNIC received the “Corporate Social Responsibility Award” at the Golden Shield Excellence Awards 2020 at Insuretek Middle East. These awards reflect the company’s commitment to providing its customers with innovative and sustainable insurance solutions.
Moreover, ADNIC has been named the “Best Sustainable Insurer of the Year” for its efforts in promoting sustainability in the insurance sector. The company has also been recognized for its excellence in customer service, winning the “Best Customer Service Provider” award at the Gulf Customer Experience Awards.
Growth Milestones
ADNIC has achieved significant growth milestones over the years, reflecting its strong financial position and commitment to providing its customers with exceptional services. These results demonstrate the company’s ability to maintain financial stability while expanding its business operations.
ADNIC has also expanded its operations across the UAE, with a presence in Abu Dhabi, Dubai, and Sharjah. The company’s financial reporting structure ensures transparency and compliance with the Abu Dhabi Stock Exchange, UAE Insurance Authority, and UAE Securities and Commodities Authority disclosure regulations.
In conclusion, ADNIC’s corporate achievements reflect its commitment to providing innovative and sustainable insurance solutions while maintaining its financial stability and expanding its operations in the UAE.
Community Engagement and Development
UAE National Talent Programme
ADNIC is committed to supporting the development of UAE nationals through various initiatives. One such initiative is the UAE National Talent Programme, which aims to identify, develop, and retain UAE national talent. The program offers training, development, and mentoring opportunities to UAE nationals, enabling them to build successful careers in the insurance industry.
Through the program, ADNIC contributes to developing a skilled and knowledgeable workforce in the UAE. The program also helps promote Emiratisation, a key priority for the UAE government.
Local Community Support
ADNIC is committed to supporting the local community through various CSR initiatives. The company has a dedicated CSR team works closely with local organizations to identify and address community needs.
One such initiative is the ADNIC Volunteer Programme. ADNIC employees have supported various initiatives through the program, including education, health, and environmental projects.
ADNIC also supports local charitable organizations through donations and sponsorships. The company has a long-standing partnership with the Red Crescent Society and has supported various initiatives, including disaster relief and community development projects.
In conclusion, ADNIC is committed to supporting the development of UAE nationals and the local community through various initiatives. The company’s CSR initiatives are an integral part of its corporate culture and reflect its commitment to positively contributing to society.
Market Position and Future Outlook
Abu Dhabi National Insurance Company (ADNIC) is a leading insurance company in the MENA region, providing various insurance solutions to individuals and businesses. ADNIC has a strong market position, focusing on quality customer service and innovative products.
In recent years, ADNIC has experienced steady growth in the insurance industry, with an increase in net profits and insurance revenue. The company has reported a net profit of AED 401.8 million in 2021, representing an 8.3% increase over the prior year. The company has a strong presence in the MENA region and will experience significant growth in the insurance industry in the coming years. ADNIC is well-positioned to capitalize on this growth, focusing on expanding its product offerings and enhancing its customer service.
ADNIC invests in technology and digital transformation initiatives to ensure future growth.
ADNIC’s strong market position, commitment to innovation, and focus on customer satisfaction make it well-positioned for continued growth and success in the insurance industry.
Frequently Asked Questions
How can I check my insurance status online in Abu Dhabi?
To check your insurance status online in Abu Dhabi, you can use the ADNIC Mobile App. This app allows you to access medical insurance benefits, find medical service providers, and submit reimbursement claims.
What is the process for filing a claim with Abu Dhabi National Insurance Company?
To file a claim with Abu Dhabi National Insurance Company, call the ADNIC Motor Insurance Claims toll-free number at any time to open your claim.
What job opportunities are currently available at Abu Dhabi National Insurance Company?
You can visit their website or LinkedIn page to learn about current job opportunities at Abu Dhabi National Insurance Company. They regularly update their job openings and provide information on how to apply.
How can I reach the customer care service of Abu Dhabi National Insurance Company?
To reach the customer care service of Abu Dhabi National Insurance Company, you can call their toll-free number or send an email.
What health insurance plans are offered by ADNIC?
ADNIC offers a range of health insurance plans to meet different needs and budgets. These include individual plans, family plans, and corporate plans. Some of their plans include Essential, Premier, and Elite.
Is the Abu Dhabi National Insurance Company a government-owned entity?
Yes, Abu Dhabi National Insurance Company is a government-owned entity.
