Takaful Emarat (PSC)

Takaful Emarat Insurance, a public shareholding company based in Dubai, UAE, and subject to Federal Law No. 48 of 2023, announced on July 31, 2025, that it received a No Objection Certificate from the Central Bank of the UAE for the appointment of new board members. The nominees are Mr. Hicham Moufid Hammoud, a Palestinian national, and Ms. Huda Buhumaid, a UAE national, both as non-executive and independent members. This notification follows the company's previous announcement on April 28, 2025, regarding board membership nominations. The announcement was made by Adnan Sabaalaish, the Acting CEO.

Takaful Emarat Insurance P.S.C, a public shareholding company registered in Dubai, UAE, operates under Federal Law No. 48 of 2023. The company is listed in the insurance companies register under No. 86 since October 14, 2008. On July 26, 2025, the Board of Directors held a meeting by circulation and appointed Mr. Haroon Ahmad as a Board member, pending approval from the Central Bank of UAE. The meeting's decisions were authorized by Adnan Sabaalaish, the Acting Chief Executive Officer.

Takaful Emarat Insurance (P.S.C) is a public shareholding company in Dubai, United Arab Emirates, operating under Federal Law No. 48 of 2023. It is registered in the insurance companies register with number 86, dated October 14, 2008. The company is planning a board meeting on Saturday, July 26, 2025, at 3:00 PM. The meeting will be held by circulation to consider the appointment of a new board member to fill a vacant position. The acting Chief Executive Officer, Adnan Sabaalaish, is the authorized signatory for this disclosure, dated July 23, 2025.

Hany Mostafa Sabri Mohamed Sabri Mostafa, an independent and non-executive board member of Takaful Emarat Insurance PSC, has resigned from the company's Board of Directors due to personal reasons. The resignation was accepted and became effective on June 26, 2025. The document confirming the resignation was signed by Adnan Saba Elaish, the Acting Chief Executive Officer, on the same date.

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.