Orient Insurance, a subsidiary of Al Futtaim Group, has announced that its shareholders have approved a 100% increase in its capital to AED1bn ($272m).
The shareholders' approval was granted during the company's Annual General Meeting held on 11 November 2026. The approval followed a recommendation in August 2026 from the company's Board of Directors for the increase.
The AED500m capital increase will be implemented through a bonus share issue to existing shareholders, subject to obtaining the necessary regulatory approvals from the Capital Market Authority and the Central Bank of the UAE.
This move aims to bolster the company's capital base and support its long-term growth and expansion plans, thereby enhancing its ability to capitalise on opportunities within the insurance sector.
Mr Omer Elamin, President of Orient Group, said, “The shareholders’ approval represents a significant milestone for Orient Insurance and comes as part of our strategy to strengthen the company’s capital base, supporting our sustainable growth and enhancing our ability to keep pace with market developments, meet customer needs, and deliver sustainable value to shareholders. This step also reflects our confidence in the company’s future and our commitment to maintaining a strong financial position that supports our ambitions in the next phase.”