Takaful Emarat (PSC)

The document outlines the financial situation of Takaful Emarat – Insurance (PSC) as of May 15, 2025, in compliance with the SCA Board of Directors’ Decision No. (32/R.M.) of 2019. The company has accumulated losses amounting to AED 47,412 thousand, which constitutes 22.5% of its paid-up capital. These losses started in 2019 due to higher-than-expected medical claims and lower investment returns, further exacerbated by a merger and acquisition project between 2020 and 2022, asset revaluation, and restated financial statements for equity investment impairments. Despite these challenges, the company has improved its solvency position, enhancing financial stability, regulatory standing, and market credibility. This improvement supports stakeholder confidence and enables the company to pursue strategic growth opportunities, invest in innovation, and expand its product offerings. The company is focusing on sustainable business development and improved underwriting performance to address these accumulated losses.

On April 30, 2025, Takaful Emarat Insurance PSC held a General Assembly Meeting chaired by Dr. Nooraldeen Atatreh at Office 103, First Floor, Hassanicor Building, Sheikh Zayed Road, Dubai, UAE. The meeting, which took place from 2:00 PM to 3:00 PM, had a quorum of 53.65% of the total attendance, primarily through proxy and electronic voting. During the meeting, several key resolutions were approved: the Company's Board of Directors report, the Auditor’s Report, the Internal Shariah Supervisory Board’s Report, and the Company’s balance sheet and profit and loss account for the year ending December 31, 2024. Additionally, the appointment of Dr. Azzeddine Benzeghiba and Mr. Moosa Khoory to the Internal Shariah Supervisory Committee was approved, along with the ratification of new Board members replacing those who resigned.

Takaful Emarat Insurance, a public shareholding company in Dubai, UAE, is subject to Federal Law No. (48) of 2023 and is registered under insurance companies Register No. 86 since October 14, 2008. The company announced the opening of nominations for two vacant Board membership seats on April 8, 2025. The election for these positions is scheduled for April 30, 2025, during the company's Annual General Assembly meeting. The nominees for the Board membership are Ms. Abeer Abdulla Khalil Mohamed Samea Almutawa (UAE), Mr. Hicham Moufid Hammoud (Palestine), Mr. Kareem Z A Murad (Jordan), Mr. Haroon Ahmad (United Kingdom), and Ms. Huda Buhumaid (UAE), all of whom are non-executive and independent candidates. Their nominations are subject to approval by the Central Bank of the UAE. The announcement is signed by Adnan Sabaalaish, the Acting CEO.

Takaful Emarat - Insurance PSC has appointed BHM Capital Financial Services PSC as a Liquidity Provider for its shares listed on the Dubai Financial Market. This appointment follows the necessary approval from the Dubai Financial Market. The liquidity provision activity for Takaful Emarat's shares is set to begin on April 25, 2025.

Takaful Emarat Insurance (P.S.C), a public shareholding company registered under UAE Federal Law No. 48 of 2023, held a Board of Directors meeting on April 24, 2025. During the meeting, the Board approved a Liquidity Provider agreement. The authorized signatory for the decision was Adnan Sabaalaish, the Acting Chief Executive Officer, who signed the resolution on the same date. The company is registered under insurance companies Register No. 86, dated October 14, 2008.

Takaful Emarat Insurance (P.S.C) is a public shareholding company based in Dubai, United Arab Emirates, registered under Federal Law No. 48 of 2023. It is listed in the insurance companies register with the number 86 since October 14, 2008. The company is planning a board meeting on Thursday, April 24, 2025, at 3:00 PM, conducted by circulation. The meeting agenda includes reviewing and approving a Liquidity Provision agreement. The document is signed by Adnan Sabaalaish, the Acting Chief Executive Officer, on April 21, 2025.

Takaful Emarat Insurance (P.S.C), a public shareholding company based in Dubai, UAE, issued a clarification on April 17, 2025, regarding a statement by the Insurance Authority in Saudi Arabia. The company emphasized that it has no legal or commercial relationship with "Takaful Emarat Insurance Services," a Saudi company that was suspended from practicing insurance brokerage activities. Takaful Emarat Insurance (P.S.C) clarified that it is a national insurance company licensed by the Central Bank of the UAE, operating under UAE federal law and regulations. This statement aims to prevent confusion due to the similarity in names and to maintain transparency for clients and business partners. For further inquiries, contact investor.relations@takafulemarat.com. The clarification was signed by Adnan Sabaalaish, Acting CEO.