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DNIR approves cash dividend of 30 per cent at annual general meeting

The distribution of 30 per cent cash dividends, totalling Dh34.650 million, is indicative of the financial strength and the sustainable profitable growth of the company.

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Dubai National Insurance & Reinsurance PSC (DNIR), one of the leading regional multi-line insurance providers in the country, has approved the distribution of 30 per cent cash dividends (Dh0.30 per share, implying total cash dividends of Dh34.650 million) for the financial year ended December 31, 2021, after concluding its annual general meeting (AGM) today.

All items on the agenda for the AGM were discussed and approved. Shareholders also approved DNIR’s financial statements for the year ended 31 December 2021.

Khalaf Ahmad Al Habtoor, chairman of the board of directors, expressed his pleasure at the robust performance of DNIR throughout 2021, highlighting its strong underwriting results. He emphasised that the distribution of 30 per cent cash dividends, totalling Dh34.650 million, is indicative of the financial strength and the sustainable profitable growth of the company.

He added: “Despite the disruptions, we were able to achieve a positive performance at DNIR and are always committed to delivering increased returns to the shareholders annually, thanks to all our stakeholders and our excellent staff. As the Omicron wave recedes, there are signs of normalcy in the economy and I hope it sustains. However, the situation is still uncertain.’

Al Habtoor continued: “In the new normal marked by uncertainty, both in our everyday lives and in the insurance industry, we will continue to make sustained investment in technology so that we can constantly create value for all stakeholders. The excellent mitigation measures taken by the Government are also of great help.”

Abdulla Al Nuaimi, CEO of DNIR, said: “In a year marked by continued uncertainty due to Covid-19, DNIR was able to deliver robust results. Despite the adverse circumstances, DNIR quickly adjusted to a rapidly changing environment - By launching our state-of-the-art inhouse contact center to effectively service customers, Formulating a robust IT strategy aligned to business priorities and market needs in line with our business strategy & partnership agreements with WLP (Word Logistics Passport) & AFZ (Ajman Free Zone) to provide customised insurance products to their clientele. These achievements led AM Best rating agency to reaffirm our financial strength rating at 'B++' with a positive outlook. Recently we were also awarded the Medical Participating Insurer (PI) by DHA (Dubai Health Authority). It all comes down to the trust of our business partners and customers and the dedication and hard work of our team."

— business@khaleejtimes.com

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