May 3, 2020 / 5:14 AM / 2 months ago

BRIEF-Abu Dhabi National Insurance Q1 Profit Rises

May 3 (Reuters) - ABU DHABI NATIONAL INSURANCE COMPANY PSC :

* Q1 NET PROFIT 122.6 MILLION DIRHAMS VERSUS 52.6 MILLION DIRHAMS YEAR AGO

* Q1 GROSS PREMIUMS WRITTEN 1.87 BILLION DIRHAMS VERSUS 1.74 BILLION DIRHAMS YEAR AGO

* UTILIZED DIGITAL INFRASTRUCTURE AND BUSINESS CONTINUITY PLAN TO RESPOND EFFECTIVELY TO COVID-19 AND TO DELIVER UNINTERRUPTED TED SERVICES

* COVID-19 IMPACT ON DIFFERENT BUSINESS LINES IS LIKELY TO BE MIXED

* INCREASE IN Q1 PROFITS DRIVEN BY GROWTH IN MOST LINES OF BUSINESS, SLIGHT INCREASE IN INVESTMENT INCOME AND COST DISCIPLINE

* COVID-19 IMPACT TO BE MIXED WITH POTENTIAL TOP-LINE PRESSURE ON MOTOR AND INCREASING RELEVANCE OF MEDICAL AND LIFE PRODUCTS

* WILL FOCUS ON PRODUCT DEVELOPMENT, INCREASED DIGITIZATION TO DRIVE BUSINESS GROWTH AND OPERATIONAL EFFECTIVENESS Source text for Eikon:

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