Al Ahlia Annual General Ordinary Shareholders Meeting

Transcription

1. Press Release Manama – Kingdom of Bahrain: [29th March, 2017] Al Ahlia holds its Annual General Ordinary Shareholders meeting Al Ahlia Insurance Company B.S.C today held its Ordinary General Assembly Meeting. The Company’s shareholders approved all agenda items including the financial statements for the year ended 31 December 2016 and also approved the Board of Directors’ recommendation not to pay any dividend for the year 2016. Last month, Al Ahlia announced a net profit of BD 31,808 (2015: Loss: (BD 622,699) or 0.51 fils (2015: Loss (10.07 fils)) per share for the year ended 31 December 2016. The total comprehensive profit for the year ended 31 December 2016 was BD 725,028 as compared to a comprehensive loss of BD (5,414) in the previous year. The Gross Written Premium stood at BD 13,529,014 for the year 2016 as compared to BD 10,926,418 for the year 2015. At the meetings, shareholders also approved appropriations, in the transfer of BD 3,181 to the statutory reserves. The shareholders absolved the members of the Board by ratifying the conduct of the members of the Board and discharged them from liability for their actions during the year ended 31st December 2016 . The Chairman of Al Ahlia, Dr. Osama Albaharna, chaired the Ordinary General Assembly Meetings which was held at the BCCI Building, Manama Centre, Bahrain with 78.43 percent of shareholders represented. On behalf of Al Ahlia’s Board, Dr. Osama Albaharna paid tribute to the Government of the Kingdom of Bahrain for longstanding support and to the regulatory and supervisory authorities in the jurisdictions where Al Ahlia operates for their guidance and constructive cooperation. =====================
2. About Al Ahlia Insurance Company : AlAhlia Insurance established in 1976, is a public shareholding company listed in the Bahrain Stock Exchange. Endowed with a composite license, the Company is carrying out both Life and General Insurance businesses in Bahrain. As one of the leading and oldest local insurance companies in the market, Al Ahlia is committed to providing insurance protection to all individuals and properties in Bahrain. With the acquisition of 71.46% by Solidarity Group Holding B.S.C ( c ) Bahrain towards the end of the year 2016 and a proposed merger of Solidarity General Takaful B.S.C ( c ) with the Company during the financial year 2017, subject to the regulatory approval, Al Ahlia is poised to be the biggest takaful company in the region and one of the leading top – tier insurance players in Bahrain