The General Assembly of “AMAN” agrees not to distribute profits

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Dubai: «The Gulf»
The General Assembly of the Dubai Islamic Insurance and Reinsurance Company (Aman) expressed its appreciation for the role of the rational leadership of the UAE, the important decisions taken by the government and the distinguished efforts made by the competent authorities to prevent and limit the spread of the Corona virus emerging (Covid 19).

The general assembly of the company discussed and approved the balance sheet and profit and loss account for one year, and approved the proposal of the board of directors regarding not to distribute profits for the past year 2019, and carry them over for the coming years, and absolved the members of the board of directors, and the auditors’ statement for the fiscal year 2019.
Dr. Mohamed Ali Khamis Al Hosani, Vice Chairman of the Dubai Islamic Insurance and Reinsurance Company (Aman), said in a speech during the company’s general assembly held yesterday, Wednesday, remotely, under the auspices of the Dubai Financial Market, through video conferencing technology, in line with government directives to reduce And to prevent the spread of the new Corona virus, he stressed the commitment of Aman Insurance Company to maintain the safety of its shareholders, customers and employees, by taking all necessary preventive measures in line with the precautionary measures taken by the UAE in light of the current developments related to the spread of Vero S. Corona emerging and through the role played by Aman as a national company operating in a vital sector.
He said that the Board of Directors of Aman Insurance Company worked hard during the past year 2019 to improve the general situation of the company, and the continuity in following up and implementing the company’s plans and improving performance rates and other matters that contributed greatly to balance and maintain profitability, indicating that the Board of Directors continues its efforts to solve a problem The solvency of the company, through the restructuring of the capital, where offers were obtained from potential strategic partners, and searches are made for the greater benefit to the shareholders.
He added that Aman Insurance Company was able to maintain its balance in the insurance market, and continues to provide its services to its customers in the UAE, and achieved good financial results during the past year 2019, where the net profits of shareholders reached 8.8 million dirhams in 2019 compared to 938 thousand dirhams in 2018 Profits of investments amounted to 3.9 million dirhams in 2019 compared to 1.9 million dirhams in 2018.
The Vice Chairman of Aman Insurance Company stated that the total technical profits from operations before administrative and general expenses amounted to 43 million dirhams in 2019, compared to 48 million dirhams in 2018, while the written premiums were 249.5 million dirhams in 2019, compared to 375.8 million Dirhams during 2018.
The General Assembly of Aman Company, during its remote meeting, reviewed the report of the Board of Directors on the activity of the company and its financial position for the financial year ended 31/12/2019, the report of the Fatwa and Sharia Supervision Board on the company’s work during the past year, and the report of the auditors.
The general assembly of Aman Company agreed to appoint the members of the Internal Sharia Supervisory Committee and the auditors for the current fiscal year 2020, and set their fees, and also approved the proposal of the Board of Directors to amend Article No. (42) of the company’s articles of association.





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