AMAN's General Assembly approves a 10% cash dividend

Speaking at the regular meeting of the company's General Assembly, which was held on March 31st at the Dubai Chamber of Commerce and Industry, Al Meeza said:

"We feel proud that AMAN has managed, in its few years of operation, to be a leading player in the local insurance market with very high standards of performance and excellence. Additionally, it achieved strategic alliances on the local, regional and international levels. These significant accomplishments led to impressive financial results with AMAN's net profits reaching Dhs41.56m. AMAN achieved major milestones in its operations including record growth of Takaful installments, launching new Takaful products that suits its costumers requirements, provide saving and credit insurance schemes via banks, and activate its website to facilitate its Takaful services to customers by utilizing state of the art technologies."

H. E. Al Meeza noted that the 2007 financial results reflect the efficiency of AMAN's approach and its capabilities to achieve profitability. He attributed the substantial increase in the insurance premiums issued in 2007 compared with 2006 to the company's excellent services and its effort to offering a comprehensive range of Islamic Takaful insurance products.

AMAN, Al Meeza noted, has expanded geographically, with the establishment of its representative office in International City, Dragon Mart Mall and Dubai, as well as the outstretch of its activities in Abu Dhabi and the Northern Emirates. He further stressed the company's endeavor to offer services using the latest technologies.

H. E. Al Meeza mentioned that Dubai Insurance and Re-Insurance Company succeeded in accomplishing the highest levels of localization among local and regional insurance companies with the percentage of UAE nationals in the company reaching 30% of the total workforce. He also noted that AMAN was honored at the meeting of Labor Ministers of the Gulf Cooperation Council States for its efforts in attracting local human resources.

Ending his speech, H.E. AL Meeza thanked the company's employees for their efforts and dedication to achieving growth and impressive financial results. He also expressed his gratitude to the Fatwa and Legal Control Committee for the role it played in the success of the company, and to all public and private authorities for their support in the insurance sector.

In the meeting, AMAN's General assembly approved the Board's suggestion of a 10% cash dividend and listened to the Board of Directors' report (2007), the Fatwa and Legal Control Committee report on the company's activities during the past year, and the auditors' report on the company's balance sheet for profit and loss in 2007.

The meeting, which was attended by a large number of shareholders, discussed last year's balance sheet including profit and loss accounts. The General Assembly discharged the Board of Directors and the auditors from their responsibilities during the fiscal year ending 31/12/2007, and appointing auditors for the 2008 fiscal year.