Sukoon Insurance PJSC

Sukoon Insurance P.J.S.C. and its subsidiaries, previously known as Oman Insurance Company P.S.C., have released a review report and condensed consolidated interim financial information for the nine-month period ending on September 30, 2024.

The text is a formal communication from Sukoon Insurance PJSC to Mr. Hamed Ahmad Ali, the Executive Chief Officer of the Dubai Financial Market, regarding the results of a Board of Directors meeting held on October 24, 2024. The meeting took place at the company's head office in Dubai and via a video conference platform. During the meeting, the board reviewed and approved several items, including the Q3-2024 financial statements, the corporate governance manual, the audit committee charter, the recovery plan, and the investment valuation policy. A general review of the company's business was also conducted. The letter is signed by Louise O’Donnell, EVP-Head of Legal & Claims Management, and a copy is sent to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

The text is a notification regarding a board meeting of Sukoon Insurance PJSC, scheduled for Thursday, October 24, 2024, at 10:00 AM. The meeting will take place at the company's head office in Dubai and via Teams video conferencing. The agenda includes the approval of the Q3-2024 financial statements, corporate governance manual, audit committee charter, recovery plan, and investment valuation policy, along with 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 copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

Sukoon Insurance PJSC, regulated by the Central Bank of the UAE, has announced a resolution passed by its Board of Directors on October 10, 2024. The resolution includes the approval of the sale of certain lands owned by the company and authorizes the CEO and/or CFO to negotiate and execute the necessary documents. 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 in Abu Dhabi.

Sukoon Insurance PJSC, based in Dubai, UAE, has announced that its Board of Directors will pass a resolution by circulation on Thursday, October 10, 2024, at 10:00 am. The agenda includes approving the sale of certain company-owned lands and authorizing the CEO and/or CFO to negotiate and execute all necessary documents. This 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 in Abu Dhabi.

Sukoon Insurance PJSC, with a paid-up capital of AED 461,872,125 and regulated by the Central Bank of the UAE, disclosed a resolution passed by its Board of Directors on Monday, 30th September 2024. The resolution, passed by circulation at 10:00 am, approved the company's Mid-Year Pricing and Underwriting Performance Report for the period ending 30th June 2024. This information was communicated 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 Licensing, Supervision, and Enforcement Affairs at the Securities and Commodities Authority in Abu Dhabi.

Sukoon Insurance PJSC, headquartered in Dubai, UAE, with a paid-up capital of AED 461,872,125, and regulated by the Central Bank of the UAE, has notified the Dubai Financial Market's Executive Chief Officer, Mr. Hamed Ahmad Ali, of an upcoming Board of Directors resolution by circulation. The resolution will be passed on Monday, 30th September 2024, at 10:00 am, addressing the approval of the company's Mid-Year Pricing and Underwriting Performance Report for the period ending 30th June 2024. The notification was signed by Louise O’Donnell, Head of Claims Management & Legal, and copied to Mrs. Maryam Butti Al Suwaidi, Deputy CEO of the Securities and Commodities Authority in Abu Dhabi.

Sukoon Insurance PJSC has completed the acquisition of the UAE Life insurance portfolio from Chubb Tempest Life Reinsurance Ltd. The agreement, signed on August 24, 2023, aligns with Sukoon's strategy to become a regional leader in life insurance. The transfer, which includes unit-linked and protection life insurance policies, has been approved by the Central Bank of the UAE and the Bermudan Monetary Authority. The migration of the portfolio is now complete. Sukoon will continue to provide policyholders with high-quality insurance services and 24/7 access to their policies and investments via its digital platform. The terms and conditions of the policies issued by Chubb remain unchanged. Emmanuel Deschamps, a member of Sukoon's Executive Committee and Head of Individual Life and Workplace Saving, stated that the transaction strengthens their market position and supports their strategy to grow their life insurance portfolio.

Sukoon Insurance, a leading insurance provider in the UAE, has introduced a new videoconferencing feature for its life insurance customers. This innovation allows applicants to complete their life insurance applications without extensive in-person medical examinations, aligning with the company's customer-centric strategy to enhance accessibility, convenience, and inclusivity. Emmanuel Deschamps, Executive Vice President, highlighted that this makes Sukoon the first in the UAE to offer such a feature for life insurance underwriting. The service is available for a specific age group with predefined premium limits. Dr. Faiza Zulfiqar, Head of Individual Life Underwriting, emphasized that this initiative improves client experience and ensures an efficient underwriting process. This development reflects Sukoon's commitment to exceptional service and continuous evolution to meet client expectations.

The text is a reference to a review report and condensed consolidated interim financial information for Sukoon Insurance P.J.S.C. and its subsidiaries, formerly known as Oman Insurance Company P.S.C., for the six-month period ending June 30, 2024.