DNIR Distributes 40% Cash Dividends
Dubai National Insurance & Reinsurance’s (DNIR) general assembly had decided in its meeting held on March 25, 2009, to give its shareholders 40% cash dividends. 2008 has been a landmark year for the company, in which the Gross Written Premium touched a new high of AED 135.58 million compared to AED 93.79 million in 2007. The 44% growth of gross premiums in the year 2008 reflects the consistent growth pattern maintained over the past years. The underwriting results rose from AED 17.33 million in 2007 to AED 29.20 million in 2008, a commendable increase of 68% over the past year.

The net profit for 2008 before appropriation amounted to AED 43.53 million. The dividend initially proposed was 35% cash dividend but during the AGM held on March 25, 2009 the Board increased it to 40%, amounting to AED 40 Million. The decision was received with appreciation by the shareholders.

In view of the amendment of DNIR’s Memorandum of Association to conform to the requirements of the new corporate governance rules, new board members were elected as follows:

Mr. Khalaf Ahmed Al Habtoor; Chairman (Executive)
Mr. Sultan Ahmed Al Habtoor; Vice Chairman (Non-Executive)
Mr. Mohammed Khalaf Al Habtoor; Managing Director (Executive)
Mr. Ahmed Ateeq Al Qamzi; Director (Independent)
Mr. Mohamed Al Falassi; Director (Independent)
 

Habtoor Polo in its Third Year of Success
On March 16, 2009 the Habtoor Polo team members held a press conference at the Metropolitan Hotel to meet with members of both the local and international media. Since its creation in 2007, Habtoor Polo has succeeded in receiving broad media interest, and this year was no exception.

The key players of both teams attended the event, including Rashid Al Habtoor, Mohammed Al Habtoor, Gonzalo Bordieu, Fernando Quinto Bordieu, Justo del Carril and Gonzalo Azumendi. The players gave the media a brief history about the Habtoor Polo Tournament, its growth over the past three years to become a leading sports event in the UAE and the Habtoor affiliation with the Royal Windsor Cup.
Rashid Al Habtoor also extended an invitation to the media to attend the tournament whose sponsors included Cercle D’Art, Ghulam General Trading, ADCB, Al Habtoor Leighton, Grant Thornton, Fratelli Productions, All Prints, Al Habtoor Motors, Haagen Dazs, Specon, Power Horse, Educational & Analytical Lab Supplies Division, Champagne Gosset, Trek and Creneau International.