MEA July 2017

44 MEA MARKETS / July 2017 , ADNIC is a trusted insurance partner - with long standing expertise in providing reassurance and support to individuals and corporates - tomanage unpredictable health, life and general risks. We were given the opportunity to speak to SamaMohamad Bilbeisi, who tells the story of the company’s success, following its inception in 1972. Comprehensive Insurance Solutions ADNIC, a leading multi-line insurance provider, has a wide network of branches as well as sales and service centres across the United Arab Emirates. Their vision is to be the leading insurer of choice across the Middle East and North Africa region. Their mission is to serve their customers, by offering quality and innovative, regional and international insurance and reinsurance solutions. Founded in 1972, they are a publicly listed composite insurance provider headquartered in Abu Dhabi, the United Arab Emirates. From their headquarters, they provide the UAE and the greater MENA region with affordable and customised insurance solutions, as well as risk underwriting solutions. Sama Mohamad Bilbeisi is eager to tell us about the company’s ethos, plus the vital role of innovation and product development in their work. “With a dedicated team of over 400 insurance professionals, we at ADNIC are committed to providing comprehensive insurance solutions, to provide reassurance to our customers. “ADNIC are also one of the leading providers of risk underwriting solutions across the Middle East and North Africa (MENA) region. We are committed to creating long-lasting relationships that are built on trust. Since our inception, the company has consistently performed strongly in terms of our financial operations, delivering value for our customers and generating optimum return on investment for our shareholders. “Innovation and product development are key at ADNIC and through continuous investment in innovative technology and market intelligence, we develop products that are customised to meet individual needs. The company transacts both life and non-life insurance and it offers a wide range of general, health and life insurance products and solutions for individuals, small, mid-sized and large companies and multi- national corporations with a base in the United Arab Emirates.” ADNIC’s core values are truly embedded in company culture and they pride themselves on continuously upholding these values when they interact with shareholders, partners, clients and employees. These values are integral to the way ADNIC does business and communicate with their stakeholders: reliability; innovation; fairness; customer centricity and loyalty. On corporate governance, ADNIC acknowledge their responsibility to shareholders, employees, partners and customers in the UAE and across the region. Sama is keen to tell us more about the company’s approach to corporate governance. “ADNIC firmly believes that good corporate governance helps to achieve management commitment to delivering value to shareholders, through setting and achieving appropriate strategic business objectives. Good governance provides an appropriate framework for the board, its committees and the leadership, to proactively and efficiently represent the interests of the company and shareholders. “We are committed to maintaining high levels of transparency and accountability in our management practices. We believe that ADNIC has a responsibility towards shareholders and the broader community. ADNIC has implemented various measures to comply with legal and ethical responsibilities. Corporate governance is engrained in all that we do. Sama is keen to reveal an excellent example of the company’s many comprehensive product offerings, life insurance. 1702ME15 “ADNIC’s life insurance products are some of the most flexible in the market. Our qualified actuaries will ensure that you receive competitive premium rates and extended conditions to give you peace of mind. You may also access many products including BANCA – Secure Life Insurance, through one of our preferred banking partners across the UAE. “Individual Term Insurance is an annual policy we offer, during which ADNIC’s customers are covered against a fixed amount, that will be paid in case of death or disability. This policy is renewable, subject to revised rates at each anniversary. “Individual Level Term Insurance is a policy where you can choose the time period, from five to 20 years (up to the attained age of 65), during which the premium rate is fixed and you will be covered against fixed amount that will be paid only in case of death. This does not give the policy holder any cash value and they cannot borrow against this policy. Additional cover for certain life circumstances can also be arranged. “Individual Decreasing Term Insurance is another policy, which is designed to protect the insured especially during the early years. The insured amount and premium decrease with each passing year.”