Aman announces the appointment of three new board members

Dubai, UAE: Dubai Islamic Insurance & Reinsurance Company PJSC (Aman), the pioneering UAE Takaful Insurance provider, has announced the appointment of three new members to its board. The appointments were announced at Aman's Annual General Meeting, held remotely on 28 June.

The three new board members, Ms. Maha Khadem Khalfan Khadem Al Mheiri, Mr. Omran Mohammedsaleh Mahmood Hussain AlKhoori and Mr. Mohammed Ahmed Abdulla Mohammed Al Malik, bring significant expertise to help drive Aman's three-year growth plan, which the company launched at the beginning of the fourth quarter of 2020. The three-year growth plan sets out an ambitious strategy to improve Aman's financial performance through a dual focus on operational expansion and enhanced investment performance, to deliver strong returns for its policyholders and shareholders.

The new board appointments include Aman’s first female board member, Ms. Maha Khadem Khalfan Khadem Al Mheiri – as part of its commitment to achieving gender diversity on AMAN's board. This is in line with the UAE regulator's recent move to encourage listed companies to have at least one female board member on their boards.

Ms. Maha Khadem Khalfan Khadem Al Mheiri is a project manager at the Abu Dhabi Executive Office. Ms. Al Mheiri holds a Bachelor's degree in Integrated Strategic Communications from Sheikh Zayed University.

Mr. Omran Mohammedsaleh Mahmood Husain AlKhoori is the Head of the Business Development Department at VPS Healthcare. Mr. AlKhoori holds a Bachelor's degree in Business Administration from Boston University.

Mr. Mohammed Ahmed Abdulla Mohammed Al Malik is a department head at Meraas, a board member of Rove Hotels Company, a board member and head of Audit and Risk Committee at Brookfield and Meraas. Mr. Al Malik graduated from Ajman University in 2014 and holds a Bachelor of Science degree.

Commenting on the new board appointments, Dr. Saleh Al Hashemi, Chairman of the Aman Board of Directors, said: “As part of Aman's focus on enhanced corporate governance, we are pleased to announce the appointment of three very capable individuals whose combined experience will significantly strengthen our Board. We look forward to integrating their unique and diverse perspectives as we continue to execute on our ambitious growth plans and focus on delivering operational excellence and greater value to our policyholders and shareholders."

Mr. Jihad Faitrouni, Chief Executive Officer of Aman, said: "We welcome Ms. Maha Khadem Khalfan Khadem Al Mheiri, Mr. Omran Mohammedsaleh Mahmood Hussain AlKhoori and Mr. Mohammed Ahmed Abdulla Mohammed Al Malik to the Board of Aman. We are excited about the collective expertise they will bring to Aman as we continue to execute our strategy, enhance value for all our stakeholders and position the company for long-term growth and profitability."

In the first quarter of 2021, Aman reported net profit attributable to shareholders of AED 6.4 million, a significant increase of 100.8% from AED 3.18 million in the first quarter of 2020. Aman's gross written premiums reached AED 60.3 million in the first quarter against the backdrop of a continued challenging market environment. The strong results demonstrate the benefits of implementing the Board's growth strategy to drive financial performance through a dual focus on operational expansion and improved investment performance.

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