Adnic H1 net profit surges nearly 60% to $51.6mln

Adnic H1 net profit surges nearly 60% to $51.6mln

Abu Dhabi National Insurance Company (Adnic), a top multi-line insurance provider, recorded a net profit of AED189.7 million ($51.6 million) for the first half (H1) of the year, a 59.9% increase compared to the same period last year.Despite challenging market conditions, Adnic delivered a resilient performance with sustained growth across key metrics and Adnic's performance was driven by effective business continuity measures allied to a strong balance sheet and solid market position, a company statement said.Sheikh Mohamed Bin Saif Al-Nahyan, Chairman of Adnic, said: “The impact of the Covid-19 pandemic is an evolving situation and Adnic will continue to monitor the impact on its business closely and take decisive action as required to support its customers and partners. As a testament to our financial strength, experience and commitment to high