Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) on Wednesday reported a decline in its net profit during the fourth quarter of 2017.

ADNIC’s net profit dropped 20.32% to AED 49 million in Q4-17 versus AED 61.5 million in the year-ago period, according to a filing to the Abu Dhabi Securities Exchange (ADX).

Meanwhile, the ADX-listed firm’s net profit surged 11% to AED 227.3 million in 2017, compared to AED 205 million a year earlier.