Press releases, Reports & Disclosures for Sukoon Insurance PJSC

A notification was sent to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, regarding a Board of Directors meeting for Sukoon Insurance PJSC. The meeting is scheduled for October 29, 2025, at 10:00 am, to be held at the company's head office on Omar Bin Al Khattab Street, Deira, Dubai, and via the 'Teams' platform. The agenda includes approving the financial statements for Q3 2025, the Board Risk Committee Charter, the Audit Committee Charter, the Investment Committee Charter, and discussing general business matters. The notification was sent by Rana Attieh, Board Secretary, and a copy was also sent to H.E. Waleed Saeed Al Awadhi, CEO of the Securities and Commodities Authority in Abu Dhabi, UAE.

Sukoon Insurance PJSC, with a paid-up capital of AED 461,872,125, is regulated by the Central Bank of the UAE. On October 7, 2025, the company's Board of Directors passed a resolution by circulation to update the trade license of Synergize Services FZ-LLC. This update reflects the appointment of Hammad Raza Khan as the new Acting CEO, replacing the former CEO, Jean-Louis Laurent Josi. The communication was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy was sent to H.E. Waleed Saeed Al Awadhi, CEO of the Securities and Commodities Authority in Abu Dhabi.

Sukoon Insurance PJSC, with a paid-up capital of AED 461,872,125, is regulated by the Central Bank of the UAE. The company's Board of Directors passed a resolution by circulation on October 6, 2025, approving the update of the trade license to reflect the appointment of Hammad Raza Khan as the new Acting CEO, replacing the former CEO, Jean-Louis Laurent Josi. The communication was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy was sent to H.E. Waleed Saeed Al Awadhi, CEO of the Securities and Commodities Authority in Abu Dhabi.

Sukoon Insurance PJSC, with a paid-up capital of AED 461,872,125, is regulated by the Central Bank of the UAE. A notification was sent to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, regarding a resolution to be passed by the company's Board of Directors by circulation on October 7, 2025. The agenda includes approving the update of Synergize Services FZ-LLC's trade license to reflect the new Acting CEO, Hammad Raza Khan, replacing the former CEO, Jean-Louis Laurent Josi. The communication was also copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO at the Securities and Commodities Authority.

Sukoon Insurance PJSC has issued a notification to Hamed Ahmad Ali, the Executive Chief Officer of the Dubai Financial Market, regarding a resolution to be passed by the company's Board of Directors on October 6, 2025, at 10:00 am. The resolution involves updating the trade license of Sukoon Insurance and its subsidiaries to reflect the appointment of Hammad Raza Khan as the new Acting CEO, replacing the former CEO, Jean-Louis Laurent Josi. The notification is also copied to Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi, UAE.

Sukoon Insurance PJSC, with a paid-up capital of AED 461,872,125, is regulated by the Central Bank of the UAE. On September 26, 2025, the company's Board of Directors passed a resolution by circulation, approving the mid-year underwriting performance report and pricing report as of June 30, 2025. The communication was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and was copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

Sukoon Insurance PJSC is notifying Mr. Hamed Ahmad Ali, the Executive Chief Officer of the Dubai Financial Market, that the company's Board of Directors will pass a resolution by circulation on September 26, 2025, at 10:00 am. The agenda includes approving the mid-year underwriting performance report and pricing report as of June 30, 2025. The notification is also copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi, UAE.

Sukoon Insurance PJSC, based in Dubai, has had its A2 Insurance Financial Strength Rating (IFSR) with a stable outlook reaffirmed by Moody's. This rating reflects Sukoon's strong market position, diversified business profile, robust risk management, and high-quality reinsurance support. The company is noted for its customer service focus, particularly in medical and consumer insurance, and its leading position in commercial insurance. Despite challenging market conditions, Sukoon reported strong financial performance in the first half of the year, with insurance revenue reaching AED 3.1 billion and net profits increasing to AED 192 million. Moody's highlighted Sukoon's effective expenditure control, steady investment income, and profitability, achieving a five-year average Return on Capital of 9.5% and a combined ratio of 94.9% as of 2024. Sukoon's minimal impact from the 2024 Dubai floods underscores its effective risk management and reinsurance strategies. Moody's expects Sukoon's profitability to continue strengthening with ongoing business and geographic diversification.

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.