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On 13/05/2024, Hily Holding PJSC held a board meeting via video conference. The meeting, which ran from 3:00 PM to 4:00 PM, had all seven board members present. The minutes from the previous meeting were approved. The financial statement for the period ending 31/03/2024 was discussed and approved, showing a net profit of AED 23,188 million, a significant increase from AED 15,675 million in the same period of 2023. Other operational matters were also discussed and decisions were made accordingly.

Presight, a leading big data analytics company in the region powered by generative AI, has been selected as one of two UAE-based companies to implement a Memorandum of Understanding (MOU) signed between the governments of UAE and Mauritius. The MOU, signed by the Minister of Energy and Public Utilities of Mauritius, Hon. Georges Pierre Lesjongard, and the Minister of Energy and Infrastructure of UAE, H.E. Suhail Mohamed Al Mazrouei, aims for cooperation in the fields of energy, water, and sanitation. The agreement was signed during the 2-day Mauritius Emerging Tech Exhibition’s AI Summit (METX). As part of this MOU, Presight will utilize its big data analytics capabilities in the energy, utilities, and infrastructure sectors.

Shareholders of E7 Group, listed on the Abu Dhabi Stock Exchange, approved a share split during the General Assembly Meeting on 24 April 2024. The split will be effective from 7 May 2024. The split will not affect the number of E7 Group Warrants (E7W) in circulation. Following the split, each warrant will allow the holder to purchase ten shares at a price of AED 1.15 per share. E7 Group has the right to redeem the warrants under certain conditions. Warrant holders can exercise their warrants for up to 36 months post-business combination, until 6 December 2026.

The Al Ain Ahlia Insurance Co. (PSC) held a board meeting on 13th May 2024. All seven board members were present, and they approved minutes from previous meetings, the company's Q1/2024 results, and the work of board committees. They also approved changes to the company's organizational structure, including changing the title of "General Manager" to "CEO", redesignating the Internal Audit Manager as the Head of Internal Audit, and appointing new heads of Compliance and Risk, as well as an In-House Actuary. The board also approved amendments to various company policies. They discussed a Central Bank Circular regarding financial reporting and external audit for insurance companies and approved an action plan in response. The meeting was signed off by the Board Secretary, Yaser Ibrahim Hmedan.

The Abu Dhabi National Insurance Company (ADNIC) has reported strong underwriting performance in Q1 2024, with a combined ratio of 90% and net insurance service results of AED 103.2 million. The company also experienced a record Gross Written Premium of AED 3,031 million, a growth of 49.9% compared to the same period last year. Strategic asset allocation adjustments from the previous year resulted in a 17.4% increase in net income from investments, reaching AED 54.4 million. Despite ongoing investments, the company has managed to control general expenses, reflected in an expense ratio of 12.3%. ADNIC also acquired a majority stake in Allianz Saudi Arabia Cooperative Insurance Company, reinforcing its position as a leading regional insurer. The company's net profit before tax was AED 111.8 million, a 12.1% increase YoY, resulting in a net profit after tax of AED 100.9 million.