Al Sagr National insurance company clarifies on share sale disclosure
The company had achieved its highest production in 2020, reaching Dh510.7million
With reference to the disclosure issued by Al Sagr National Insurance Company on 26/05/2022 regarding potential sale of the entire share of a major shareholder in the company, Al Sagr Insurance Company would like to clarify to the shareholders and stakeholders that this disclosure and any possible and subsequent change in the ownership percentage of the company’s shareholding will not affect the operations of the company.
The financial statements of Al Sagr Insurance Company for the first quarter of 2022 show some achievements and figures - Total Assets reached Dh1,088 billion; Capital: Dh230 million; Cash Balances: Dh185.9 million; and Production: Dh157.6 million.
It is worth noting that the company had achieved in 2020 its highest production since its establishment, reaching Dh510.7 million, and also achieved a production of Dh500 million in 2021.
The company was approved by the Dubai Health Authority to underwrite the basic medical insurance plan, which increased production in this sector by 46 per cent.
The company’s operation is supported by strong and “A” rated reinsurers.
The company attracts the best expertise in the insurance industry, whether in the field of operation, sales and marketing and other fields.
Al Sagr continues to provide its services to the best levels of customer satisfaction, and it owns within its customer data base, a large group of prominent companies and establishments in the market.
Al Sagr also continues, as usual, to settle its dues to its creditors including clients’ claims, providers of medical services and others.