Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) reported an 11.12% year-on-year growth in consolidated interim net profit for the third quarter of 2019.

Net profit reached AED 75.813 million during the three-month period ended September 2019, versus AED 68.228 million in Q3-18, according to a bourse statement released on Tuesday.

In the first nine months of 2019, the company logged a net profit of AED 194.441 million, compared to AED 218.762 million the year before.

The company’s gross premiums written surged 34% year-on-year to AED 2.98 billion during the January-September period.

Moreover, ADNIC’s general and administrative expenses amounted to AED 186 million from January to September, compared to AED 176.6 million in the corresponding period of 2018.

Earnings per share levelled down to AED 0.34 in the nine-month period ended September, from AED 0.39 in the year-ago period.

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