Press releases, Reports & Disclosures for Hayah Insurance Company P.J.S.C

HAYAH Insurance Company P.J.S.C., located at Floor 16, Sheikh Sultan Bin Hamdan Building, Corniche Road, Abu Dhabi, UAE, is a Public Joint Stock Company with a paid-up capital of AED 200 million. It is registered with the Central Bank of the UAE under registration no. 83 since 16/09/2008. The company's CEO is Mohamed Seghir. On 28th May 2024, the company disclosed the resignation of board member Mrs. Alyazia Ali Saleh Ahmed Alkuwaiti, a non-executive and independent member, effective from 22nd May 2024 due to private reasons.

The text provides the condensed interim financial information of HAYAH Insurance Company P.J.S.C. as of 31st March 2024. The principal business address of the company is P O Box: 63323, Abu Dhabi, UAE.

HAYAH Insurance Company P.J.S.C., a public joint stock company based in Abu Dhabi with a paid-up capital of AED 200 million, is registered at the Central Bank of the UAE. According to a form prepared in line with the SCA Board of Directors’ Decision No. (32/R.M.) of 2019, companies whose shares are listed on the market and have accumulated losses of 20% or more of their paid-up capital must disclose this information. As of Q1 2024, HAYAH Insurance Company has accumulated losses amounting to 40% of its paid-up capital. These losses are largely due to legacy losses from AXA Group and date back to before the formation of AXA Green Crescent Insurance Company P.J.S.C. in 2015. The company has been profitable since 2019 after a strategic review and the appointment of a new CEO in 2018. Steps have been taken to reduce costs and closely monitor the business, with immediate corrective actions taken if necessary.

The text provides condensed interim financial information for HAYAH Insurance Company P.J.S.C. as of 31 March 2024. The principal business address of the company is P O Box: 63323, Abu Dhabi, UAE.

HAYAH Insurance Company P.J.S.C., located on the 16th floor of the Sheikh Sultan Bin Hamdan Building in Abu Dhabi, is a public joint stock company. It is registered with the Central Bank of the UAE with a registration number 83 dated 16/09/2008. The company is funded by a paid-up capital of AED 200 million. On 14th May 2024, a board meeting took place from 11:00 AM to 12:40 PM. Seven board members were present, achieving a quorum of 87.5%. During the meeting, the financial statements for the period ending 31st March 2024 were approved, and the board discussed the latest developments in business and administrative matters. The meeting's resolutions were signed by the CEO, Mohamed Seghir.

HAYAH Insurance Company P.J.S.C, located in Abu Dhabi, is a Public Joint Stock Company funded by a paid-up capital of AED 200 million. It is registered with the Central Bank of the UAE with registration no. 83 dated 16/09/2008. On 14th May 2024, the company held a board meeting with a 87.5% quorum. The meeting started at 11:00 AM and ended at 12:40 PM. During the meeting, the board approved the Annual Audited Financial Statements for the period ended 31st March 2024 and discussed the latest developments in business and administrative matters. The meeting was attended by seven board members, with Mohamed Seghir, the Chief Executive Officer, as the authorized signatory.

HAYAH Insurance Company P.J.S.C., located in Abu Dhabi, United Arab Emirates, is a public joint-stock company funded by a paid-up capital of AED 200 million and registered at the Central Bank of the UAE. The company communicated that it will not be accepting the nomination request of Ms. Sarah Abdel Majeed Faraidouni for a board vacancy, as per directives from the Central Bank, because she has been elected and approved as a board member in another licensed insurance company. The company plans to take necessary action to fill the board vacancy in accordance with rules and regulations.

Resolution No. 408 of 2024 announces the temporary suspension of trading on the shares of Hayah Insurance Company P.J.S.C. This suspension is due to the company's Board of Directors Meeting that is scheduled to be held at 11:00 on the 14-May-2024, which coincides with the trading session at ADX. As a result, trading in the company's shares will be suspended from 09:00 on 14-May-2024 until the meeting results are received by ADX. All department heads in ADX are required to implement this resolution in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by the authorized person and issued on 09/05/2024.

HAYAH Insurance Company P.J.S.C., based in Abu Dhabi, is a public joint stock company with a paid-up capital of AED 200 million. It is registered with the Central Bank of the UAE under registration no. 83 dated 16/09/2008. The company has scheduled a meeting for Tuesday, May 14th, 2024, at 11:00 AM to discuss and approve the financial statements for the first quarter of 2024 and other administrative and operational business matters. The meeting notice is authorized by Mr. Mohamed Seghir, the Chief Executive Officer. A copy of this notice has been sent to the Security and Commodities Authority (SCA).

Resolution No. (395) of 2024 temporarily suspends trading of the shares of Hayah Insurance Company P.J.S.C. This decision is due to the company's failure to submit their Board of Directors meeting result. The suspension will commence on 7-May-2024 and will last until the company discloses the results of the Board of Directors meeting. The resolution mandates all heads of departments in ADX to execute this decision in their respective fields. The resolution will be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution has been approved by an authorized person and was issued on 07/05/2024.