ADNIC’s strategic adherence to Abu Dhabi’s Plan 2030, makes its progress more cohesive as it is streamlined to the overall template of Abu Dhabi’s socio economic diversification. It also underwrites a sizeable chunk of Abu Dhabi’s mega projects. By embracing three core principles - Modernisation, expansion and employer of choice – ADNIC’s vision and mission is constantly being strengthened thanks to team commitment, management support and the innovative ‘can do’ spirit’ that characterises Abu Dhabi and the region today.

With gross premiums of AED 1.36bn and net profits of AED 210m in 2008, CEO Walid Sidani, ADNIC is justifiably proud of the firm’s history, underscored by continuous, unabated growth that has transformed ADNIC into the largest risk carrier and player in the UAE. Its solid financial base supported by strong reinsurance protection which upholds ADNIC’s short-term and long-term commitments to clients and partners - added to a recent rebranding - gives the edge required to evolve successfully in an increasingly globalised arena. “We recognise our humble beginnings, but today we have entered a global environment and Abu Dhabi is positioning itself to become a world respected player as a hub for regional excellence. We must ensure - as a key pillar of Abu Dhabi’s business establishment - that we can effectively mirror that expansion,” Sidani explains.

With an objective to expand the existing client base of corporations, individuals and partnerships with re-insurers as well as brokers, government agencies and institutions, both in the local and regional markets, ADNIC is careful to uphold long standing traditions of integrity and honesty with every policy issued or service rendered. “We constantly monitor local and international industry trends to provide clients with optimum insurance products and services available. This is why ADNIC is keen on expanding its offerings by creating cobranded products.

The recent joint venture with Belgium based Vanbreda International is an example to innovate and respond to client’s needs.” Even though ADNIC’s core areas have traditionally focused on commercial insurance, Sidani sees a tremendous growth in the consumer area; this is why their new partnership with Vanbreda International for the creation of ‘SHIFA’ (International Medical Product), that aims to offer coverage across 192 countries and over 10,000 medical service providers worldwide, is so important.

“Sidani discusses another alliance that has taken shape with a Talbot underwriting Limited to expand its commercial insurance business in the MENA region through the creation of Underwriting Risk Services Middle East (URSME) which is based at the Dubai International Financial Centre (DIFC). “Merging the technical and underwriting expertise of the London market, with ADNIC’s local strength and presence, will be a powerful combination in the future. URSME will offer clients in the MENA region facultative reinsurance products across various lines of business.”

With the evolution of Sharia’a compliant insurance responding to regional demand, ‘Takaful’, Islamic Insurance is growing annually at 20 to 30 percent globally. “We are keen to provide a socially and ethically viable alternative to conventional insurance. Takaful makes sense for the MENA region as it helps individuals and corporations avail of the right risk protection without having to sacrifice any moral values that they may perceive conventional insurance as not sufficiently providing”, he explains.

“With gross premium levels in H1 2009 standing at AED 866.7m (up from AED 841.6m for the same period during the previous year), the proof that ADNIC’s products are resonating with clients is undeniable. With quality re-insurers selected to mitigate the level of risk in excess of that retained by the Company, we take our work seriously and it shows”, Sidani concludes.