In October 2014 ADNIC entered into a global partnership with IGP, an international network of major life insurance companies. The agreement allows subsidiaries of multinational firms operating out of the UAE to pool their local insurance contracts to their headquarters’ insurance scheme, enabling the subsidiaries to benefit from any underwriting profits in the form of annual dividends.
Multinational firms operating in the UAE can now approach ADNIC for a local group life insurance quote, which will be used for a pooling illustration to be presented to the company headquarters for a possible multinational pooling arrangement. Eventually, should the Group Life policy be awarded to ADNIC, the client may opt to cede it to their global pool and enjoy the added value of a potential profit share. In addition, ADNIC offers a wide range of insurance products, which can be obtained at competitive market terms.
IGP operates throughout the world to meet the group insurance and pension needs of the affiliates, branches and subsidiaries of international corporations. IGP serves over 830 multinational companies and is represented in over 75 countries across the globe.