Abu Dhabi National Insurance Company (ADNIC) has announced results of its 41st Annual General Assembly Meeting (AGM), held at the Millennium Hotel in Abu Dhabi. The Annual General Assembly of ADNIC, presided by His Excellency Khalifa Al Kindi, Chairman of ADNIC's Board of Directors, passed the following resolutions: · Approval of 50 per cent cash dividend (50 fils per share)

· Approval of The Board of Directors Report, the Auditors Report and Financial Statements for 2013

· Ernst and Young were approved as ADNIC's auditors for 2014

Commenting on the AGM, H.E. Khalifa Al Kindi stated: "The Board of Directors remains supportive of the management's plans to continue expanding ADNIC's footprint within the UAE and MENA region. As one of the most established financial services companies in the nation, we firmly believe that our innovative approach will enable us to take advantage of new opportunities arising from buoyant MENA economies, whilst maintaining our commitment to enhancing shareholder value. The Board is also proud of the strong financial performance recorded in 2013, with over AED 2 billion in revenues for the second consecutive year and a 25 per cent increase in net profit."

Mr. Walid Sidani, Chief Executive Officer of ADNIC said, "We sincerely thank our Board Members for their continued support and guidance, which has enabled us to maintain momentum in the implementation of our Perpetual Excellence Plan. Our focus on innovation and standardization, combined with prudent underwriting capabilities, has enabled us to stay ahead of the market and we continued to generate sustainable profitability for our shareholders. Our focus for 2014 is to further our expansion plans and enhance our customer offering through product innovation, technology and investments."