Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) on Wednesday reported a 22.6% year-on-year increase in its net profits during the first nine months of 2018, reaching AED 218.8 million ($59.58 million), compared to AED 178.5 million ($48.61 million).

Value of subscription in installments rose 12.2% to AED 2.23 billion in the nine-month period ended September, from AED 1.98 billion a year earlier, according to a statement to the Abu Dhabi Securities Exchange (ADX).

Year-on-year, net revenues of subscription grew 27.5% to AED 304.7 million by the end of September, compared to AED 239 million.

ADNIC’s profits also levelled up 36.54% to AED 68.27 million during the third quarter of 2018, from AED 50 million in Q3-17.