Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC), listed on the Abu Dhabi Securities Exchange (ADX), reported a 19.1% year-on-year growth in consolidated interim net profit for the second quarter of 2019.

Net profit reached AED 66 million during the three-month period ended 30 June 2019, versus AED 55.4 million in Q2-18, according to a bourse filing.

In the first half of 2019, the company logged a net profit of AED 118.6 million, compared to AED 150.5 million for H1-18.

The company’s gross written premiums rose by 29.5% to AED 2.35 billion during the six-month period ended 30 June 2019 from AED 1.81 billion in H1-18.

Additionally, ADNIC’s general and administrative expenses amounted to AED 125.9 million in H1-19, compared to AED 112.3 million in the same period of 2018.

Total assets grew by 11.3% to AED 8.07 billion as at 30 June 2019 from AED 7.25 billion as at 31 December 2018.

In Q1-19, ADNIC posted a net profit of AED 52.6 million, compared to AED 95.2 million in Q1-18, the company previously revealed in a statement.