National insurance company Al Sagr clarifies disclosure of share sale

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With reference to the disclosure issued by Al Sagr National Insurance Company on 05/26/2022 regarding the potential sale of all shares of a major shareholder of the company, Al Sagr Insurance Company wishes to clarify to shareholders and to the stakeholders that this disclosure and any possible subsequent change in the company’s shareholding percentage will not affect the company’s operations.

Al Sagr Insurance Company’s financial statements for the first quarter of 2022 show some achievements and figures – Total assets reached Dh 1,088 billion; Capital: 230 million dirhams; Cash balances: 185.9 million dirhams; and Production: 157.6 million MAD

It should be noted that the company had achieved in 2020 its highest production since its establishment, reaching 510.7 million Dh, and also achieved a production of 500 million Dh in 2021.

The company was approved by the Dubai Health Authority to subscribe to the basic medical insurance scheme, which increased the production of this sector by 46%.

The company‘s operations are backed by strong, A-rated reinsurers.

The company attracts the best expertise in the insurance industry, whether in operations, sales and marketing and other areas.

Al Sagr continues to provide its services at the highest levels of customer satisfaction and has a large group of leading companies and establishments in the market in its customer database.

Al Sagr also continues, as usual, to settle its debts to its creditors, including claims from customers, medical service providers and others.

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