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Jul 2019

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UAE: AMAN Insurance develops five-year plan, elects new board of directors

Source: Middle East Insurance Review | Jun 2019

The Dubai Islamic Insurance and Reinsurance Company (AMAN) has developed a five-year plan, for the period 2019-2023, aimed at bolstering the company’s position, financial standing and earnings. 
 
Chairman HE Mohammed bin Omair bin Yousef Al-Muhairi said during the company’s annual general meeting that many measures have been taken to improve the company’s status. “Although we have made substantial proceeds in 2017 and 2018 that are far less than our aspirations, we consider them as a kick-off point for a better future for both the company and its stakeholders.” 
 
He pointed out that the board of directors has followed through with the reform plan recommended last year by selling off Boubyan Takaful Kuwait to improve the company’s performance. He said the board has also changed its foreign ownership to 49% based on the general meeting last year. Work is also underway to restructure its capital.   
 
A new board of directors for the next three years was also announced during the AGM. HE Mohammed bin Omair bin Yousef Al-Muhairi, Dr Mohamed Ali Khamis Al Hosani, Mr Naser Falah Al-Qahtani, Mr Abdurrahman Ahmed Senan and Mr Mubarak Matar Al Shamsi were elected as members of the board. M 
 
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