From Arabianbusiness.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 AED307 million in impairments on investments last year, which sent net profit tumbling to AED52 million in 2009 from AED210 million a year earlier……………………………………….Full Article: Source