Insurance House — AGM Information 2021

Apr 11, 2021

Press Release

Insurance House's AGM approves 4% Cash Dividend

Abu Dhabi - April 12, 2021 - Insurance House PSC (IH), Annual General Meeting approved the distribution of a 4% cash dividend to its Shareholders.

In his address to the Shareholders, Mohammed Abdulla Algubaisi, Chairman of Insurance House, said: "Despite 2020 being a game-changing year for everyone, Insurance House registered a Net Profit of AED 10.89 million. Considering the upheavals endured due to the pandemic over the course of the year, this is a resilient performance that provides a solid foundation for sustained profitable growth in the near future".

Alqubaisi added: "Gross Premiums Written during 2020 weighed in at AED 217.37 million. Net Premiums Earned in 2020 were slightly lower at AED 150.17 million compared to AED 153.13 million in the previous year. At the same time, Net Claims Incurred during 2020 were held flat at AED 84.21 million compared to AED 84.41 million in the previous year. As a combined result of the above, Net Underwriting Income for 2020 was at AED 47.00 million".

"Despite volatile equity, fixed income and real estate markets, overall Investment Income from a carefully managed and well-diversified investment portfolio was maintained at AED 6.81 million in 2020 compared to AED 6.89 million in the previous year. This performance is a direct result of our conservative approach to investments and liquidity management under volatile market conditions", Algubaisi continued.

"Our strategy is to compete on the basis of differentiated product offerings, improved digital capabilities and superior service quality. Going forward, profits from core insurance activities will be driven by continuous fine-tuning of our risk underwriting

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دار التأمين ش.م.ع: ص.ب ١٢٩٩٢١، أبوظبي، ا.ع.م؛ هاتف:٤٤٤ ٤٢٤ (٢) ٩٧١+؛ فاكس:٤٠٠ ٤٩٣٤ (٢) ١٧١ " / Insurance House P.S.C: P.O. Box 129921, Abu Dhabi, U.A.E; Tel: +971 (2) 4934 444; Fax: +971 (2) 4934 400 ـة عـامـة بـرأس مــال وقــدره ١١٨,٧٨٠,٥٠٠ درهم إماراتي - Public Joint Stock Company and the share capital is AED 118, 780,500

capabilities, increased use of digital channels to extend customer reach and enhanced controls in our claims management processes", Alqubaisi concluded.

Ends

About Insurance House:

Insurance House is a Public Joint stock Abu Dhabi-based Insurance Company with total paid up capital of AED 118,780,500. The company offers high quality yet affordable insurance products and services, meeting international standards in compliance with local requirements ranging from conventional to specialized insurance classes. Our fundamental aim is to develop quality tailor made products catering to customers' insurance needs. Insurance House is listed on the Abu Dhabi Securities Exchange (ADX) under the ticker symbol "IH".

Insurance House is rated "BBB-" for Long-Term Issuer Credit Rating and "B+" (Good) Financial Strength Rating, both with a stable outlook by AM Best.

For further information, kindly contact:

Wissam Farran - Group Head Group Corporate Communications Insurance House PSC Tel: +971 2 6194893 Fax: +971 2 6315806 Wissam.f@insurancehouse.ae

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دار التأمين ش.م.ع: ص.ب ١٢٩٩٢١، أبوظبي، ا.ع.م؛ هاتف:٤٤٤ ٤٢٤ (٢) ٩٧١+؛ فاكس:٤٠٠ ٤٩٢٤ (٢) ٩٧١+ Insurance House P.S.C: P.O. Box 129921, Abu Dhabi, U.A.E; Tel: +971 (2) 4934 444; Fax: +971 (2) 4934 400 ـة عــامــة بــرأس مـــال وقـــدره ١١٨, ٧٨٠, ٥٠٠ درهم إماراتي - Public Joint Stock Company and the share capital is AED 118, 780,500 asl

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