Strategic alliance between ADNIC and ADCB offers customers innovative insurance and banking solutions

Abu Dhabi Commercial Bank (ADCB), one of the UAE’s leading banks, partners with Abu Dhabi National Insurance Company (ADNIC), one of the prominent insurance companies in the Region to provide new technological, internet banking and cash management solutions, which will further enhance ADNIC services to its customers. In addition, ADNIC as a “Reliable Insurer” will offer its innovative banc assurance products to all ADCB’s Commercial customers with affordable insurance solutions.
Under this mutual partnership, ADCB and ADNIC will provide high quality Customer Service and value to ensure that both their customers have consistent support and positive experience with their banking and insurance services.
ADCB will provide ADNIC with an array of services to include medical claim payments, collections of premiums, detailed reporting and management of post dated checks. ADNIC will have access to all services on ADCB's Internet Banking as well as Host-to-Host channels. ADNIC offers their bank assurance products through ADCB SME franchise.
Mr. Ala'a Eraiqat, ADCB CEO, said: “We are pleased to have an opportunity to provide ADNIC with innovative cash management solutions to help achieve operating efficiencies and value-added customer servicing. Strategic alliances such as ours show ADCB’s commitment to be a market-leading provider of cutting edge banking products and services.
Mr. Walid Sidani, ADNIC CEO, said: “ADNIC is looking forward to this mutually strategic partnership with ADCB as we always seek to better serve our customers and provide them with excellent customer care. This partnership is aligned with ADNIC’s strategic pillar of being “customer centric” to provide better services to our valued customers.”
Background Information
Abu Dhabi National Insurance Company - ADNIC
Abu Dhabi National Insurance Company (ADNIC) PJSC is a composite insurance partner with long-standing expertise in providing insurance products to individuals and corporates across the Middle East and North Africa (MENA) region. Founded in the United Arab Emirates (UAE) in 1972, ADNIC has a wide network of branches as well as sales and service centers across the country. ADNIC also has a representative office in London, under the name ADNIC International Ltd. ADNIC is a publicly listed company on Abu Dhabi Securities Exchange (ADX).
Abu Dhabi Commercial Bank
ADCB was formed in 1985 and today after integration employs over 3,350 people from over 45 nationalities, serving approximately 590,000 retail customers and over 20,000 wholesale clients. It is the third largest bank in the UAE and second largest in Abu Dhabi by assets, at AED 163.7 billion as at March 31st, 2010.
ADCB is a full-service commercial bank which offers a wide range of products and services such as retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency, derivative, Islamic products, project finance and property management services.
ADCB is owned 64.8% by the Abu Dhabi Government through the Abu Dhabi Investment Council. Its shares are traded on the Abu Dhabi Securities Market.
ADCB has won the Silver class category of The Sheikh Khalifa Excellence Award (SKEA) for the finance sector in November, 2009. In February 2010, ADCB won The World Finance Corporate Governance Award for “Best Corporate Governance in the UAE” and was recently named “Best Retail Bank in the UAE and GCC 2010” by The Asian Banker magazine in March 2010.