Abu Dhabi National Insurance Co. Kept at Buy as FAB Notes Q2 Performance

MT Newswires · 2d ago
03:50 AM EDT, 08/20/2026 (MT Newswires) -- FAB Securities maintained its investment view on Abu Dhabi National Insurance Co. (ADX:ADNIC) as it took note of the insurer's second-quarter earnings. "We maintain our BUY rating on ADNIC with a target price of AED 9.35. ADNIC delivered resilient operating performance in 1H26, despite a complex and volatile global environment. The Company reported Gross Written Premium (GWP) of AED 6.1 Bn and a combined ratio of 95.2% as of 1H26, reflecting strong underwriting performance. ADNIC continued to focus on cost efficiency and operational discipline, with an expense ratio of 15.5% in 1H26, despite continued investments in business growth," analysts said in a Thursday note. During the three-month period, the insurance company logged a 6.3% year-over-year increase in net profit to 119 million Emirati dirhams, which beat FAB's 102 million-dirham forecast. Insurance revenue rose 10.7% annually to 2.2 billion dirhams, against the research firm's estimate of 1.99 billion dirhams. "Looking ahead, ADNIC maintains a positive outlook for the remainder of 2026, supported by the strength of its underlying business and expectations of normalizing market conditions. The Company remains focused on supporting the long-term economic visions of the UAE and its other operating markets while pursuing sustainable growth," analysts added.