This article may have been created or edited in return for undisclosed payments, a violation of Wikipedia's terms of use. It may require cleanup to comply with Wikipedia's content policies, particularly neutral point of view. (February 2024)
The company is listed on the Abu Dhabi Stock Exchange and trades under the symbol and Bloomberg ticker ADNIC.[4]
History
ADNIC was established by Emiree Decree on 10 September 1972 and was the first insurer to be licensed in the Emirate of Abu Dhabi.[5] The company has expanded over the years and now provides a full suite of insurance and reinsurance products within the UAE, GCC and other countries in Asia and Europe.[6]
Operations
ADNIC has operations across all emirates in the United Arab Emirates consisting of a network of branches, as well as sales and customer service centres.[7] The insurer provides risk coverage in more than 75 countries through its international division operating from Dubai as well as a representative office in London.[7]
The company partners with regional and international brokers and has a global network of partnerships with global insurance and reinsurance companies.[8][9]
ADNIC engages with all stakeholders through its various initiatives focused on health and wellbeing, climate change and giving back to the local community.[11] The company has partnerships with several CSR initiatives, and is a partner of Emirates Nature-WWF, where it contributes to local conservation projects and supports the UAE to achieve its net zero goals.[12]
In 2020, ADNIC partnered with the Social Investment Fund, administered by the Authority of Social Contribution - Ma’an, to support the UAE community during its fight against the pandemic.[13]
In 2022, the company also contributed to Ma’an to support the Abu Dhabi community in social challenges including physical and mental health, education, skill development, family and community causes.[14]
Ratings
ADNIC’s rating by credit rating agencies are:
A.M. Best: Financial strength rating of “A” (Excellent) and long-term issuer credit rating of "A" (Excellent), reaffirmed in 2022[15]
S&P: ‘A’ rating equivalent to strong with a stable outlook, reaffirmed in 2022[15]
