From Kippreport.com: Abu Dhabi National Insurance Company plans to enter the Islamic insurance market and develop joint ventures with foreign partners to diversify away from investments and focus on core business to boost growth, its chief executive said.
ADNIC, owned 25 percent by the Abu Dhabi government, booked 307 million dirhams in impairments on investments last year, which sent net profit tumbling to 52 million dirhams in 2009 from 210 million dirhams a year earlier……………………………………….Full Article: Source