Press releases, Reports & Disclosures for Dubai Insurance Co. PSC

Dubai Insurance Company and One Degree, Asia’s first licensed insurer for digital assets, have received approval from the Central Bank of UAE to offer digital asset custodial risk insurance in the UAE. This new insurance service, branded as "One Infinity," enhances their product portfolio and supports digital asset companies by providing comprehensive risk management solutions. Robin Scott, General Manager of Middle East for One Degree, announced this development at the Belt and Road Summit in Hong Kong. The custodial risk insurance is essential for digital asset exchanges, custodians, and service providers, protecting against risks such as hacks, theft, internal fraud, and physical damage. This approval marks the first time such specialized insurance is available directly in the UAE, further solidifying the country’s position as a hub for digital assets.

Dubai Insurance Co. has announced the opening of nominations for its Board of Directors membership. The nomination period will run from 14/02/2024 to 23/02/2024. Interested shareholders who meet the conditions for board membership can apply for positions such as Executive Director, Non-Executive Director, or Independent Director. The board will elect seven members. Nominations will remain open for ten days, and applicants must comply with the conditions set forth in Federal Law No. (32) Of 2021 and the Board of Directors’ Decision no. (3.R.M / Chairman) of 2020. After the nomination period closes, the company will publish a list of candidates on its website and at its head office. A list of candidates will also be provided to the Securities and Commodities Authority.