Al Buhaira National Insurance Co. (ABNIC) one of the leading National Insurance Co. in the UAE announces its 2017 financial results, reflecting improvement in underwriting performance and overall profitability.ABNIC posted AED 31 Million in its Underwriting profit compared to AED 25 Million in 2016 reflecting an increase by 24%. Total Net profit of the company stood at AED 52 Million compared to AED 43 Million in 2016.
ABNIC written premium stood at AED 537 Million for the year 2017. Shareholders equity stood at AED 664 Million and the Total Assets of the company stood at AED 1,757 Million as on 31st December, 2017.
ABNIC has repeatedly demonstrated consistent bottom line growth, despite various obstacles. Much of this success is attributed to the core underwriting strategies, enhanced operational efficiencies and improved customer service.
ABNIC’s achievement in the past year endorses various business initiatives that were rolled out by the company. These programs worked towards digital transformations in service delivery, stronger implementation of data-based actuarial and underwriting practices and refined corporate governance. ABNIC looks forward to these programs gathering momentum in 2018 and the profound advantages it will bring to its clients and partners.