Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) has approved the distribution of 45% cash dividends for 2024, after concluding its annual general meeting (AGM) on 27 February.
The shareholders agreed that ADNIC disburses AED 0.45 per share, which implies a total cash dividends of AED 256.50 million, according to a press release.
Chairman of ADNIC, Sheikh Mohamed Bin Saif Al Nahyan, said: “ADNIC presented yet another set of exceptional results in 2024, driven by a solid underwriting and investment performance, and our regional expansion, following the recent acquisition of Allianz Saudi Fransi, which is now rebranded to Mutakamela Insurance Company.”
Al Nahyan noted: “We would like to thank our shareholders for their continued trust in our journey. The distribution of cash dividends underscores our commitment to providing consistent returns on their investments.”
The Chairman concluded: “2024 stands as a milestone year for ADNIC, where we delivered the highest ever reported total insurance revenue as well as overall net profit.”
Meanwhile, the CEO of ADNIC, Charalampos Mylonas, said: “ADNIC is committed to providing innovative and accessible solutions, and to driving operational growth. This is demonstrated by our solid net profit performance for the year and is further evidenced by our distribution of cash dividends.”
Mylonas added: “We are proud to not only provide exceptional value for our customers, but also consistent returns for our shareholders. Looking forward, we are focused on further enhancing our product and solutions suite, embracing technology, and reinforcing our position locally and beyond.”
