Sukoon Insurance PJSC

The document is the report of the Board of Directors, the independent auditor's report, and the consolidated financial statements for Sukoon Insurance P.J.S.C. and its subsidiaries, formerly known as Oman Insurance Company P.S.C., for the year ending December 31, 2024.

Sukoon Insurance PJSC, based in Dubai, UAE, held a Board of Directors meeting on January 28, 2025, where several resolutions were passed. These included the approval of the final annual financial statements and the external auditor's report for the fiscal year ending December 31, 2024. The board also approved the business plan for 2025 and the report on the company's activities and financial position for 2024. Additionally, they resolved to recommend to the General Assembly of shareholders the payment of board members' remuneration for 2024, the appointment of external auditors for 2025 (pending Central Bank approval), and the distribution of cash dividends for 2024 amounting to 20% of the share capital (also subject to Central Bank approval). The letter was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

Sukoon Insurance PJSC has announced that its Board of Directors will pass a resolution by circulation on January 28, 2025, at 10:00 am. The agenda includes recommending cash dividends for the 2024 financial year, approving the final annual financial statements for the year ending December 31, 2024, approving the external auditor's report, approving the Board of Directors' report on the company's activities and financial position for the same fiscal year, recommending the remuneration for the Board of Directors for 2024, and approving the appointment and remuneration of external auditors. The notification is addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, with a copy sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

The Board of Directors of Sukoon Insurance PJSC held a meeting on January 17, 2025, at their head office in Dubai and via video conferencing. The board reviewed the draft of the external audit report and the annual financial statements for the fiscal year ending December 31, 2024. They approved the budget and reinsurance plan for 2025 and set the date for the Annual General Assembly Meeting on February 28, pending approval from the Central Bank of the UAE and the Securities and Commodities Authority. The meeting was attended by Louise O’Donnell, the Board Secretary, and a copy of the meeting details was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority.

Sukoon Insurance PJSC has announced a Board of Directors meeting scheduled for January 17, 2025, at 9:00 AM. The meeting will take place at the company's head office in Deira, Dubai, and will also be accessible via the Teams platform. The agenda includes reviewing the draft external audit report and annual financial statements for the fiscal year ending December 31, 2024, approving the budget for 2025, the reinsurance plan, and setting the date for the General Assembly Meeting, pending approval from the Central Bank and the Securities and Commodities Authority. General business matters will also be discussed. The notification was sent by Louise O’Donnell, Board Secretary, with a copy to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority.

Sukoon Insurance PJSC has announced the opening of nominations for its Board of Directors from December 23, 2024, at 8 am to January 7, 2025, at 6 pm. Shareholders who meet the eligibility criteria can apply for board membership by submitting an application to the company's main headquarters in Deira, Dubai. The application should include a brief introduction and the type of membership sought (executive, non-executive, or independent). Seven board members will be elected, and nominations will remain open for at least ten days, in line with governance regulations. Candidates must comply with relevant legal and company requirements, and necessary documents will be available on the company's website. Once nominations close, candidates cannot transfer their candidacy to others. The names and details of candidates will be published on the company's bulletin board and website on February 25, 2024, and shared with the Securities & Commodities Authority and the Market.

Sukoon Insurance PJSC held a Board of Directors meeting on December 10, 2024, at their head office in Dubai and via video conferencing. The board reviewed and approved the Nomination and Remuneration Committee Charter and decided to initiate the nomination process for electing a new Board of Directors, pending approval from the Securities and Commodities Authority (SCA) on December 23, 2024. They also conducted a general review of the company's business. The communication was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the SCA.

Sukoon Insurance PJSC has scheduled a Board of Directors meeting on Tuesday, December 10, 2024, at 10:00 am. The meeting will take place at the company's head office in Deira, Dubai, and via 'Teams' video conferencing. The agenda includes reviewing and approving the Nomination and Remuneration Committee Charter, initiating the nomination process for electing new board members after the 2025 AGM, and a general review of the company's business. The notification is addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy is sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority.

Sukoon Insurance PJSC announced that its Board of Directors passed a resolution by circulation on November 25, 2024, at 10:00 am. The resolution approved a new structure for the Nomination and Remuneration Committee. The new members include Hamda Moosa Abdulla Hussain AlShamali as Chairman, and Hazem Shish and Rashed Saif Saeed ALJarwan AlShamsi as Committee Members. The announcement was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority.

Sukoon Insurance PJSC has announced that its Board of Directors will pass a resolution by circulation on November 25, 2024, at 10:00 am. The agenda includes the election of new members and a chairman for the Nomination and Remuneration Committee. The notification was addressed to Mr. Hamed Ahmad Ali, Executive Chief Officer of the Dubai Financial Market, and a copy was sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.