Sukoon Insurance PJSC

Sukoon Insurance has been reaffirmed by S&P Global Ratings for its strong market position and stable outlook. The company is recognized for its effective long-term strategy and robust financial performance, even amidst a CEO transition. S&P expects Sukoon to continue diversifying locally and internationally, with growth driven by initiatives like Sukoon Takaful, Lloyd’s syndicate 2880, inward treaty reinsurance, individual life, and Sukoon Workplace Savings Solution. Sukoon's interim CEO, Hammad Khan, highlighted a 20% growth in insurance revenue and a 52% increase in net profits in the first half of 2025. The company's transformation under Mr. Jean-Louis Laurent Josi since 2018 has been noted, with achievements such as rebranding, acquiring Sukoon Takaful, and integrating life portfolios from Generali and Chubb. Sukoon reported insurance revenue of AED 3.1 billion and net profits of AED 192 million for the first half of 2025, with S&P acknowledging its potential for sustainable profitability.

Sukoon Insurance PJSC has announced the resignation of its CEO, Jean-Louis Laurent Josi, after seven years of leadership. Since joining in 2018, Josi has significantly transformed the company, enhancing customer service, operational resilience, and financial strength. Under his leadership, Sukoon achieved consistent growth and rebranded itself. Badr Al Ghurair, Chairman of the Sukoon Board, praised Josi's commitment to innovation and excellence. Hammad Khan, currently the Chief Financial Officer and Executive Vice President, has been appointed as Interim CEO. Khan has over 25 years of experience and has been with Sukoon since 2018. The company expressed gratitude for Josi's contributions and wished him success in his future endeavors.

Sukoon Insurance PJSC announced the resignation of Jean-Louis Laurent Josi as CEO, which has been accepted and approved by the Board of Directors. The Board has appointed Chief Financial Officer Hammad Khan to manage the company's daily operations as Interim CEO until a new CEO is appointed, pending approval from the Central Bank of the UAE. The Board will collaborate with the Central Bank to approve the new successor. The announcement was communicated by Badr Al Ghurair, Chairman of the Board of Directors, with a copy sent to Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi, UAE.

The document is a review report and condensed consolidated interim financial information for Sukoon Insurance P.J.S.C. and its subsidiaries, covering the six-month period ending on June 30, 2025.

Sukoon Insurance PJSC held a Board of Directors meeting on July 23, 2025, at Swissotel Al Ghurair in Dubai and via Teams video conferencing. The board approved the financial statements for the second quarter of the fiscal year 2025, agreed on proposed changes to the composition of the Audit Committee and the Nomination and Remuneration Committee, and discussed general business matters. The communication was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and was also copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

Sukoon Insurance PJSC has scheduled a Board of Directors meeting on July 23, 2025, at 10:00 am at the Swissotel Al Ghurair in Deira, Dubai, with the option to attend via Teams video conferencing. The meeting agenda includes approving the financial statements for the second quarter of the fiscal year 2025, considering proposed changes to the Audit Committee and the Nomination and Remuneration Committee, and addressing general business matters. The notification is addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, with a copy to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority. The letter is signed by Jean-Louis Laurent Josi, Chief Executive Officer of Sukoon Insurance PJSC.

Sukoon Insurance P.J.S.C. and its subsidiaries have released a review report and condensed consolidated interim financial information for the three-month period ending March 31, 2025.

Sukoon Insurance PJSC held a Board of Directors meeting on April 24, 2025, at their head office in Dubai and via video conferencing. The board approved the financial statements for the first quarter of the fiscal year 2025, the compensation policy, and the job description for the Board Secretary. They also discussed general business matters. The meeting's results were communicated to Mr. Hamed Ahmad Ali, the Executive Chief Officer of the Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

The text is a notification regarding a Board of Directors meeting for Sukoon Insurance PJSC. The meeting is scheduled for April 24, 2025, at 10:00 am, to be held at the company's head office in Dubai as well as via the Teams platform. The agenda includes approving the financial statements for the first quarter of 2025, appointing an external actuary, approving the compensation policy, approving the job description of the company Board Secretary, and discussing general business matters. The notification is addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and is copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority.

Sukoon Insurance PJSC has announced that its Board of Directors passed a resolution by circulation on March 28, 2025. The resolution approved an increase in the authorized share capital of "Sukoon Workplace Savings Solutions Limited" by USD 2 million, raising it from USD 2 million to USD 4 million, represented by 2,000,000 ordinary shares at USD 1 each. Additionally, the paid-up share capital of the company was increased by USD 500,000, from USD 2 million to USD 2.5 million, represented by 500,000 ordinary shares at USD 1 each. The Board also recommended amending the Articles of Association to reflect these changes and authorized the board of "Sukoon Workplace Savings Solutions Limited" to implement the amendments. The information was communicated to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.