Press releases, Reports & Disclosures for Arabian Scandinavian Insurance - Takaful

The Arabian Scandinavian Insurance Company (P.L.C) Takaful – ASCANA Insurance (“Sukoon Takaful”), licensed by the Central Bank of the UAE, held a Board of Directors meeting on 25 January 2024. The meeting discussed and approved in principle the company's annual financial statements for the fiscal year ending 31/12/2023, subject to final approval from the Central Bank of UAE. The company's budget and business plan for the fiscal year 2024 were also approved. The board further approved in principle the report of the board's activities and the company's financial position for the fiscal year ending 31/12/2023. The board recommended not to distribute dividends for the year ending 31 December 2023 and not to pay the board members' remuneration for the year 2023. The board also made a recommendation to the General Assembly of shareholders to appoint the external auditors for the year 2024 and to consider changing the legal and trade name of the company to 'Sukoon Takaful PJSC'.

The Arabian Scandinavian Insurance Company (Takaful-ASCANA Insurance) or "Sukoon Takaful", licensed by the Central Bank of the UAE, has scheduled a Board of Directors meeting on January 25, 2024. The meeting will be held at the company's head office in Deira, Dubai, and via the 'Teams' platform. The agenda includes reviewing and approving the annual financial statements for the fiscal year ending December 31, 2023, the board's report on company activity and financial position, the external auditors' report, and the date for the General Assembly meeting. The board will also discuss the distribution of dividends for the year ending on December 31, 2023, board remuneration, appointment of external auditors, and other matters.

The Arabian Scandinavian Insurance Company (P.L.C) Takaful – ASCANA Insurance, also known as Sukoon Takaful, has announced a change in its Board of Directors. The board has decided to appoint Mr. Saood Al Ghurair as the new Chairman, replacing Mr. Rashed Al Jarwan. However, Mr. Al Jarwan will continue to serve as a member of the board. The decision has been communicated to the Central Bank of UAE and the Securities and Commodities Authority. The information was relayed in a letter to Mr. Hamed Ahmad Ali, the Executive Chief Officer of the Dubai Financial Market.

The Arabian Scandinavian Insurance Company (P.L.C) Takaful – ASCANA Insurance, also known as Sukoon Takaful, has announced a change in its Board of Directors. The company, which is licensed by the Central Bank of the UAE, has appointed Mr. Saood Al Ghurair as Chairman of the Board, replacing Mr. Rashed Al Jarwan. However, Mr. Rashed Al Jarwan will continue as a member of the board. The decision has been communicated to the Central Bank of UAE and the Securities and Commodities Authority. The notification was signed by the Board Secretary, Lamia Zouari, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO, Licensing, Supervision, Enforcement Affairs at the Securities and Commodities Authority.

The Arabian Scandinavian Insurance Company (P.L.C) Takaful – ASCANA Insurance (“Sukoon Takaful”), PJSC, based in Dubai, UAE, has informed the Dubai Financial Market that its Board of Directors will pass a resolution by circulation on 26th December 2023 to reconsider the Board’s chairmanship. The company, which has a paid-up capital of 154,000,000, is licensed by the Central Bank of the UAE. The notification was sent by the Board Secretary, Lamia Zouari, to Mr. Hamed Ahmad Ali, the Executive Chief Officer of the Dubai Financial Market, with a copy to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

The Arabian Scandinavian Insurance Company PLC – Takaful – Ascana Insurance (“Sukoon Takaful”), a company licensed by the Central Bank of the UAE, held a board of directors meeting on December 13, 2023. The meeting took place at the company's head office in Dubai and was also accessible via video conferencing. The board conducted a general review of the company's business. The information was conveyed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and Mrs. Maryam Butti Al Suwaidi, Deputy CEO of Licensing, Supervision, Enforcement Affairs at the Securities and Commodities Authority.

The Arabian Scandinavian Insurance Company (P.L.C.) - Takaful - ASCANA Insurance, which was incorporated with limited liability by an Amiri decree and is subject to Federal law no. (6) of 2007, will hold a Board of Directors meeting on Wednesday, 13th December 2023. The meeting will take place at 11:00 am at the head office of Oman Insurance Company (the parent company) in Dubai and via 'Teams' video conferencing. The board will discuss a general review of the company's business.

The Arabian Scandinavian Insurance Company (P.L.C.) - Takaful - Ascana Insurance, incorporated with limited liability under Amiri decree and subject to Federal law no. (6) of 2007, acknowledged a typographical error in their Arabic press release dated 05 December 2023. The error pertained to the incorrect use of "trade name" instead of "brand name". The company confirmed that it has adopted "Sukoon Takaful" as its brand name. The letter was addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of Licensing, Supervision, Enforcement Affairs at the Securities and Commodities Authority in Abu Dhabi.

The Arabian Scandinavian Insurance Company P.L.C - Takaful - ("Ascana Insurance") has rebranded itself to Sukoon Takaful, aligning with its parent company's brand. The strategic rebranding aims to create a unique value proposition for customers seeking conventional or takaful insurance. Sukoon Takaful, licensed by the Central Bank of the UAE, has a paid-up capital of 154,000,000. The company, which recently received an 'A' rating from S&P with a stable outlook, is committed to customer excellence and aims to become a regional reference for Sharia-compliant insurance solutions.