Adnic wins Middle East insurance award
Manama, February 8, 2011
Abu Dhabi National Insurance Company (Adnic) has been voted as the Insurance Company of the Year at the 7th Annual Middle East Insurance Forum (MEIF 2011) award ceremony which was held in Bahrain.
The annual MEIF Insurance Company of the Year Award, which is one of the most prestigious in the industry, is designed to recognize institutions that have made a significant contribution to the regional insurance industry.
Adnic’s nomination for the award was based on their superior risk-adjusted capitalisation, strong business position in the insurance market, and their robust financial performance. Adnic also reflected a very strong capitalisation, operating performance, and liquidity, coupled with strong earnings setting an industry-wide example of best practice.
Abdul Rahman Mohammed Al Baker, executive director of Financial Institutions Supervision at the Central Bank of Bahrain, presented the award to Walid Sidani, chief executive officer of Adnic.
“This award is a major milestone in our path to achieving our vision of becoming the leading and reliable insurer of choice within the Mena region,” said Walid Sidani.-TradeArabia News Service