The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Dubai / Emirates Business
The General Assembly of Dubai Islamic Insurance & Reinsurance Company (Aman) PJSC lauded the great role played by the UAE visionary leadership, the decisions made by the government and the efforts made by the different competent authorities for fighting the novel coronavirus (Covid-19). The assembly also praised the efforts made by the healthcare providers, civil defence and Police sectors which are fighting in the frontlines for protecting our health and wellbeing against the virus.
Under the patronage of DFM, the meeting was organised through videoconferencing technology in line with the directives of visionary leadership aimed at controlling the pandemic.
“ We have attained good financial results with AED8.8 million net profit in 2019 for shareholders compared to only AED938 thousands in 2018, the investment profit also soared from AED1.9mn in 2018 to AED3.9 million in 2019â€, Dr Mohammed Ali Khamis Al Hosni, Aman’s Vice Chairman of the Board of Directors said. The chairman also said total operating profit was AED43 million in 2019 compared to AED48 million in 2018. The gross written contribution (premium) was AED 249.5 million in 2019 compared to AED 375.8 million in 2018, he highlighted.
Dr Mohammed Ali Khamis Al Hosni stressed that the company is committed to taking all the necessary preventive measures for protecting the health and wellbeing of its shareholders, customers as well as employees in line with the efforts made by the UAE authorities against the spread of the novel coronavirus (Covid-19). He also pointed out that the board worked relentlessly throughout 2019 to enhance the company’s position and follow-up with implementing its plans Al Hosni also pointed out that the board will continue its efforts to sort out the company’s financial solvency issue through capital restructure, adding, “We are working with potential local strategic partners in this regards and are very determined to get what is best for our shareholders.
Under the patronage of Dubai Financial Market, the meeting was organised through videoconferencing technology in line with the directives of our visionary leadership aimed at controlling the pandemic.
The attendees also reviewed the reports of the board, Shariah Supervisory Board, the auditor as well as the company’s financial position for the year 2019.
The assembly also approved the financial statements of the company and the board decision to withhold dividends for 2019. The assembly also discharged and released the liability of the directors and auditors for the financial year ended 31/12/2019. This is in addition to appointing members of the Shariah Supervisory Board and the auditors and approving their fees.
Finally, the assembly agreed the board’s request for amending Article No. (42) of the Articles of Association.