DNIR Distributes 40% Cash Dividends
Dubai National Insurance & Reinsuranceís (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 DNIRís 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 DíArt,
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