Dubai, May 26th, 2010: Dubai Islamic Insurance and Reinsurance Company, Aman, signed today a co-operation agreement with the American Life Insurance Company, ALICO. Under the agreement, Aman will provide Alico’s insurance products that are compliant with the Sharia principles, as determined by Aman’s Fatwa and Sharia Supervisory Board, to its customers in the UAE.

The Agreement was signed at Aman’s headquarters in Dubai by Mr Hussein Mohammed Al Meeza, Managing Director and CEO of Aman, and Mr. Michel Khalaf, Alico’s Regional President and CEO, Middle East, Africa and South Asia.  According to the terms of the co-operation agreement, Aman accepted to issue the insurance products proposed by Alico, which were qualified to be Takaful Products, as per the opinion of Aman’s Fatwa and Sharia Supervisory Board. The agreement also stipulates that all Takaful products that Aman will accept to issue in its own name under this agreement shall be reinsured with Alico.

Commenting on this move, Mr Hussein Mohammed Al Meeza, Managing Director and CEO of Aman, said the agreement is in line with Aman’s continued efforts to provide new and innovative Shariah compliant Takaful products to its valued customers in the UAE. “We signed this co-operation agreement to provide Alico’s insurance products in accordance with Shariah guidelines under the supervision of our Fatwa and Shariah Supervisory Board,” he noted.

He added that any new insurance products will be reviewed by Aman’s Fatwa and Shariah Supervisory Board to make sure they comply with Shariah Takaful insurance principles before being offered to the customers.

“Alico is a one of the leading international insurance companies with extended and strong ties in the region and rich record of achievements and history of successful growth. It started operating in the Middle East, Africa and South Asia in 1952. It offers excellent services and a diversified range of insurance products, including  life, health and accidents insurance products through different distributors in the region.

Our cooperation with Alico represents a significant opportunity to provide innovative insurance products to Aman’s customers in the UAE,” Al Meeza remarked.

For his part, Mr. Michel Khalaf expressed Alico’s commitment to provide innovative insurance products and solutions to meet the needs of its clients and the life, health and accidents insurance markets. “This cooperation agreement with Aman comes as part of Alico’s dedication to ensure that its products cover clients from all walks of life and all over the world,” he said.

Dubai, April 19, 2010: Dubai Islamic Insurance & Reinsurance (Aman) has declared a first quarter net profit of AED 9.3 million for 2010.  The company’s operating net profit amounted to AED 6.2 million during this time as the earnings per share stood at 0.05.

Additional growth was seen as Aman’s insurance revenues increased to AED 135 million during the first quarter of 2010 with an increase of 56% compared to the AED 86.37 million noted for the same period in 2009.

The company reports that total equity has also increased during the first quarter of 2010 by approximately 4.4%.

Amendment of the company’s regulations will provide greater transparency in accordance with the requirements of Islamic Insurance

Dubai, March 23, 2010: Dubai Islamic Insurance and Reinsurance Company (Aman) held their extraordinary AGM meeting headed by H.E. Mohamed Bin Omeir Bin Yousif Al Muhairi, Chairman of Aman, which was also attended by Hussein Al Meeza, Managing Director and CEO of Aman, as well as members of Aman Governing Council, held in the Godolphin Ballroom of Emirates Towers in Dubai on March 23.

During the meeting, participants decided to amend the statute of the company in accordance with Resolution No. 518 / 2009 regarding controls on governance and institutional standards of discipline.  The action included the addition of the Corporate Governance regulations issued by the Securities Commission in the UAE in April of 2007, which are to be adopted by financial institutions listed in the capital markets.

H.E. Mohammed bin Omair bin Yousef Al Muhairi, Chairman of Aman, chose the forum as an opportunity to highlight the importance of applying standards of Corporate Governance.  “One of the key motivations for the amendment is to provide more comprehensive disclosure  of the inner workings of Aman in a timely fashion—including financial position, performance, and property rights,” commented Al Muhairi.

The application of enhanced Corporate Governance practices will lead the company to show more transparency and credibility in financial markets, and provide protection for shareholders in partner companies.  This will also facilitate companies in exercising their legal rights and ensuring equal treatment of all shareholders as the Governing Council exercises effective overview of the company’s Management and Board of Directors.

The Securities Commission in the UAE had granted financial institutions listed in the capital markets with three years to implement the application of Corporate Governance controls, ending on April 30, 2010. The Board of Aman believes that the governance controls, and the responsibilities of the company’s boards, commissions and auditors, are a strategic option that will ensure the protection of the company’s interests and customers while strengthening the national economy.

Dubai, 03/02.2010

Dubai Islamic Insurance and Reinsurance Company (Aman) has announced that its net profits for 2009 have reached AED 20.57 million, compared to year 2008.

Company officials have stated that the company’s reached AED 495.777 million in total Premiums.

Results announced during CEO and MD presentation to Aman’s strategic partners and insurance brokers

CEO and Managing Director of Dubai Islamic Insurance and Reinsurance Company (Aman) Hussein Al Meeza Read the full story

Focus on quality of ‘business on the books’ leads to higher profits throughout 2009

Mr. Hussein Al Meeza, Aman’s CEO and Managing Director

Dubai Islamic Insurance and Reinsurance Company (Aman) says it that in the first three quarters of 2009 the company made Dhs 26.34 million in profits; a rise of 326% compared with the same period in 2008.  Aman has also reported a Dhs 6.4 million profit within the last three months (Q3) specifically. Read the full story

Mr. Hussein Al Meeza, CEO and Managing Director of Aman

Dubai Islamic Insurance and Reinsurance Company (Aman) said it has made Dh19.9 million profit in the second quarter of the year, Read the full story

In an attempt to allow Young Emiratis to lead and excel in all business fields, Dubai Islamic Insurance and Reinsurance

(AMAN) has promoted Miss Amal Alrayisi to Acting Manager for Aman branch office in Sharjah and the Northern Emirates. Read the full story

Aman Insurance, the region’s leading insurance company, has been awarded the ‘BEST TAKAFUL OPERATOR OF THE YEAR 2009’ for the second year running by Policy Magazine at the Middle East Insurance Awards Ceremony at Raffles, Dubai.

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Dubai Islamic Insurance & Reinsurance Company, has launched a new innovative health insurance scheme for customers in the UAE.

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