Abu Dhabi National Insurance Company (Adnic), one of the leading insurance companies in the UAE, has received for the second consecutive year the prestigious award of ‘Middle East Insurance Company of the Year 2010’ from World Finance Magazine at the London Stock Exchange.
The award, which was presented to Adnic’s CEO Walid Sidani and Deputy CEO - Non-Marine Ahmad Idris, recognises the company's financial stability, coherent development strategy, product innovation, exceptional response to customer needs, and enhanced quality service.
During the award ceremony Sidani said that Adnic is undergoing a constant evolution based on a long-standing philosophy of "better than yesterday, but not as good as tomorrow", demonstrating a commitment to continuous improvement.
Alexander Redcliffe, Editor of World Finance Magazine, said: "World Finance was very pleased to announce Adnic as the winner of the World Finance Insurance Company of the Year 2010, Middle East, for the second consecutive year. The judges' collective decision was based on the company's ability to set an industry-wide example of best practice. The success of Adnic’s executives' ‘Aggressive and Profitable Growth’ vision was demonstrated through the positive feedback industry leaders provided about Adnic."
Sidani added: "Receiving this award from a prestigious entity like the World Finance Magazine for two consecutive years proves we are on the right track. Being recognised for a successful management, a development-focused and client-servicing approach encourages the team to accelerate their efforts to provide our clients with reliable, competitive, and flexible, insurance solutions."
Adnic has recently received high ratings from Standard & Poor's and AM Best Company.
S&P reaffirmed the company's financial strength rating as Strong (A-) and raised its outlook from Stable to Positive. AM Best Company rated Adnic’s financial strength at an A (Excellent) and gave it an issuer credit rating (ICR) of an "A" with a stable outlook on both ratings.