The board meeting of Takaful Emarat Insurance PJSC was held on Wednesday, 15 May 2024, from 15:00pm to 16:30pm. Five board members were present, achieving a quorum of 88.3%. The board ratified the minutes from the previous meeting held on 5th April 2024, and approved the unaudited interim consolidated financial statements for Q1 ending 31 March 2024. Other matters were also discussed. The meeting's decisions were signed off by Board Secretary, Rayan Omer.

Takaful Emarat Insurance PJSC will hold a board meeting on Wednesday, 15th May 2024 at 15:00pm. The agenda includes ratifying the minutes of the previous Board of Directors meeting held on 5th April 2024, discussing and approving the unaudited interim consolidated financial statements for Q1 ended 31st March 2024, discussing the latest insurance business updates, and addressing any other business. The meeting disclosure was signed by Board Secretary Rayan Omer on 13th May 2024.

Takaful Emarat Insurance has released a report detailing its financial situation in compliance with the SCA Board of Directors’ Decision No. 32/R.M. of 2019. The report reveals the company's accumulated losses amounting to AED 181,264 (in thousands), which is 120.8% of its paid-up capital. The losses have been attributed to a series of factors including reduced margin and higher medical claims expenses than expected, lower returns from investments, the impact of a merger and acquisition project, and the writing off of bad debts. The company has initiated steps to address the situation, including a capital restructuring process, the development of a long-term business plan, and enhancements to its IT systems.

On 15th April 2024, the Dubai Financial Market's Board decided to declare Mr. Saeed Al Sharid's seat as vacant due to the absence of a legal requirement. The company will officially disclose any updates regarding the vacant seat after obtaining relevant regulatory approvals. This information was conveyed by the Board Secretary, Rayan Omer.

The board meeting of Takaful Emarat Insurance PJSC took place on April 5, 2024, from 10:30 AM to 11:15 AM, with five members present and a 71% quorum achieved. The board ratified the minutes from the previous meeting held on January 10, 2024. They discussed and approved the Audited Financial Statement and the integrated report for the year ended December 31, 2023. The board also discussed and approved the agenda and date for the General Assembly, pending approval from the Central Bank and the Securities and Commodities Authority (SCA). A recommendation was made to the General Assembly to reconsider their decision from February 27, 2024, to amend the capital increase amount to AED 185 million from AED 125 million, also subject to approval from the Central Bank and the SCA. Other matters were discussed as well. The results of the meeting were disclosed by Rayan Omer.

Takaful Emarat Insurance PJSC held a board meeting on Friday, 5th April 2024 at 10:30am. The agenda included the ratification of the previous Board of Directors meeting minutes, discussion and approval of the audited financial statement for 2023 (subject to approval from the Central Bank of the UAE), determination of the date and agenda for the General Assembly, discussion on increasing the company's share capital, updates on the insurance business, and other business matters. The meeting was authorized by Board Secretary, Rayan Omer.

On March 27, 2024, a letter was sent to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, by Rayan Omer, Board Secretary of Takaful Emarat Insurance PSC. The letter informed that the Board of Directors meeting, which was scheduled to take place on March 29, 2024, at 11 am, has been postponed. The new date for the meeting will be disclosed to the shareholders officially at a later date.

On March 25, 2024, Takaful Emarat - Insurance PSC informed Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market, that the permitted percentage of foreign ownership in the company's capital has been increased from 25% to 49%. This change is in accordance with Article 7 of the company's articles of association. The last trading date for the 25% limit will be on March 26, 2024, and the increase will be effective from March 27, 2024. The information was conveyed by Rayan Omer, the Board Secretary of Takaful Emarat - Insurance PSC.

The General Assembly of Takaful Emarat Insurance PJSC convened on February 27, 2024, at Al Moosa Tower 2 in Dubai, UAE. The meeting approved the Board of Directors' report outlining the company's capital restructuring plan, including capital reduction and increase. The auditor's report on the company's losses, their origin, and the mechanism for managing them was also approved. A special resolution was passed to reduce the company's capital by 88.3%, provided the company's accumulated losses as of December 31, 2023, are not less than AED 132,429,000. This reduction aims to extinguish the accumulated losses amounting to AED 132,429,000 through the cancellation of 124,348,000 shares in the company, with the nominal value of AED 1 per share. The company will use all legal and/or optional reserves to extinguish the accumulated losses.

The Public Joint Shareholders Company, Takaful Emarat Insurance PSC, has released its preliminary results for the year ended 2023. The company was established on 18th May 2008, with a paid-up, subscribed, and authorized capital of AED 150 million each. The Chairman of the Board is Ms. Fatima Hussain Ali Ahmed and the Chief Executive Officer is Mohd Amin Ghaleb Abdel Latif Abu Quora. The company's external auditor is Grant Thornton Audit and Accounting. The company can be contacted via mail at P.O.BOX 57589, UAE, or by phone at +971 4 -230 9300, or via email at a.sabaalaish@takafulemarat.com.