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01 january 2014
Home > Issuers > Listed Securities > Securities > Company Profile Page

Arab Insurance Group B.S.C.

ARIG
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  • Market: DFM
  • Symbol: ARIG
  • ISIN: BH 0009114776 / GDR: US 0384572063
  • Sector: Insurance

Company Brief

Country of Origin: Kingdom of Bahrain

Arab Insurance Group (B.S.C) (the “Company”, Parent Company) is an international insurance company registered as a Bahraini Shareholding Company having its registered office at Arig House, Manama, Kingdom of Bahrain. The Parent Company and its subsidiaries (the “Group”) are involved in provision of general (non-life) and life reinsurance and related service activities.

Key Facts

ESTABLISHED:

Aug 19, 1980

AUDITOR:

KPMG

FISCAL YEAR END:

DECEMBER

REGISTRAR:

KPMG - Bahrain

Board Members

CHAIRMAN

Mr. Saeed Mohammed Abdullah AlBahhar Al Shehhi

Deputy
Mr. Mohamed Saif Khalfan Butti Al Hameli

MEMBERS

Mr. Mohamed Saif Ghanem Sultan Al Suwaidi
Mr. Ahmed Saeed Almahri
Mr. Wael Ibrahem Abdukhazam

Top Management

Chief Executive Officer

Mr. Yassir Albaharna

General Manager - Reinsurance

Mr. Firas El Azem

Equity Profile

DATE OF LISTING:

Dec 9, 2004

SECTOR:

Insurance

AUTHORIZED CAPITAL:

220,000,000.00 US Dollar

ISSUED SHARES:

220,000,000.00

PER VALUE SHARE:

1.00 US Dollar

Subsidiaries

Arima Insurance Software W.L.L. Kingdom of Bahrain 100.00 %
Arig Capital Limited United Kingdom 100.00 %
Takaful Re Limited United Arab Emirates 54.00 %
Hardy Arig Insurance Management W.L.L. Kingdom of Bahrain 50.00 %
Gulf Warranties W.L.L. Kingdom of Bahrain 100.00 %
Globmed Bahrain W.L.L. Kingdom of Bahrain 25.00 %

Contact Details

Head Office:

Manama , Kingdom of Bahrain

Address:

Arig House, Building 131, Road 1702, Diplomatic Area 317, PO Box 26992 Manama, Bahrain

Phone No.:

+973 17 544 444

Fax No.:

+973 17 531155

Email address:

info@arig.com.bh

Website:

http://www.arig.net/

Showing Last 10 Disclosures - ARIG View all
ARIG 14-06-2017 02:26 AM

Resignation and appointment of Board member

1 File(s)
ARIG 13-06-2017 02:05 AM

BOD meeting to be held by circulation

1 File(s)
ARIG 15-05-2017 08:32 AM

Press release regarding financial results for the 1st QTR of 2017

1 File(s)
ARIG 15-05-2017 08:30 AM

Results of BOD meeting including interim condensed consolidated financial statements for the 1st QTR of 2017

2 File(s)
ARIG 14-05-2017 10:30 AM

Financial statements for the 1st QTR of 2017

1 File(s)
ARIG 26-03-2017 09:06 AM

BOD meeting

1 File(s)
ARIG 21-03-2017 08:16 AM

Notification from the company

1 File(s)
ARIG 21-03-2017 08:14 AM

Resolutions of General Assembly

2 File(s)
ARIG 20-03-2017 02:15 AM

Resolutions of General Assembly

2 File(s)
ARIG 05-03-2017 08:26 AM

Invitation of General Assembly

1 File(s)
Showing Last 10 Issuer News - ARIG View all
ARIG 26-12-2016 08:58 AM

Press release

1 File(s)
Showing Last 10 Financial Reports - ARIG View all
ARIG 14-05-2017 10:30 AM

Financial statements for the 1st QTR of 2017

1 File(s)
ARIG 31-12-2016 01:53 AM

Financial statements for the year of 2016

1 File(s)
ARIG 30-09-2016 10:30 AM

Financial statements for the 3rd QTR of 2016

1 File(s)
ARIG 30-06-2016 12:47 AM

Financial statements for the 2nd QTR of 2016

1 File(s)
ARIG 01-05-2016 10:30 AM

Financial statements for the 1st QTR of 2016

1 File(s)
ARIG 28-04-2016 03:27 AM

Financial statements for the year of 2015

1 File(s)
ARIG 14-11-2015 04:41 AM

Financial statements for the 3rd QTR of 2015

1 File(s)
ARIG 12-08-2015 03:30 AM

Financial statements for the 2nd QTR of 2015

1 File(s)
ARIG 17-05-2015 03:30 AM

Financial statements for the 1st QTR of 2015

1 File(s)
ARIG 15-02-2015 04:00 AM

Financial statements for the year 2014

1 File(s)
Showing Last 10 General Meetings - ARIG View all
Meeting Date/TimeMar 20, 2017 12:30:00 PMType of MeetingGeneral Assembly
Net Profit/Loss9.2 millionCash Dividend5
Bonus Share
Announcements/Resolutions

1.    Approved the Minutes of the previous Ordinary General Assembly meeting held on 20 March 2016.

2.    Approved the Board of Directors’ Report for the financial year ended 31 December 2016.

3.    Received the Report of the Auditors on the Consolidated Financial Statements for the year ended 31 December 2016.

4.    Approved the audited Consolidated Financial Statements for the year ended 31 December 2016.

5.    Discussed & approved the appropriations of profits for the financial year ended 31 December 2016:

6.    Transfer of US$ 894,000 to Legal Reserve from the current year net profit.

7.    Approved the appropriation of the remaining amount of US$ 8,268,000 and an additional US$ 1,633,609 from the retained earnings which totals US$ 9,901,609 towards the payment of the payment of 5% of the paid up capital amount as cash profits, net of treasury shares. The distribution of dividends will start from 30 Mach 2017.

8.   Approved the Corporate Governance Report for the year 2016.

9.   Absolved the Directors from legal liability for the financial year ended 31 December 2016. Delegated the Authority to the Board of Directors to appoint an External Auditor other than the current auditor for financial year ended 31 December 2017 and determine remuneration

10. Approved the reconstitution of the Board from existing Nine to Six Members and accordingly the Shareholder selected the Board of Directors for the next three years, subject to the approval of the Ministry of Industry and Commerce.

 

Last Date For Dividend EntitlementMonday, March 20, 2017Ex-Dividend DateTuesday, March 21, 2017
Register Closing (Settlement) DateWednesday, March 22, 2017Trading Suspension Date
Trading Resuming DateDividends Payment DateThursday, March 30, 2017
Payment EntityDFMMeeting VenueArig Hourse, Bahrain
2 File(s)
Meeting Date/TimeMar 20, 2016 12:30:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss(4,421,000)Cash Dividend
Bonus Share
Announcements/Resolutions
  1. Approved the Minutes of the previous Ordinary GeneralAssembly meeting held on 23 March 2015.

  2. Approved the Board of Directors’ Report for thefinancial year ended 31 December 2015.

  3. Received the Report of the Auditors on theConsolidated Financial Statements for the year ended 31 December 2015.

  4. Approved the audited Consolidated Financial Statementsfor the year ended 31 December 2015.

  5. Approved the Corporate Governance Report for the year2015.

  6. Absolved the Directors from legal liability for thefinancial year ended   31 December 2015.

  7. Reappointed KMPG as Auditors for the financial year2016, and authorized Board of Directors to determine theirremuneration

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueArig House, Bld No: 131, Road 1702, Diplomatic Area 317 Kingdom of Bahrain
1 File(s)
Meeting Date/TimeMar 23, 2015 11:30:00 AMType of MeetingAnnual General Meeting
Net Profit/Loss15,615,000Cash Dividend5%
Bonus Share
Announcements/Resolutions

1.     Approved the Minutes of the previous Ordinary General Assembly meeting held on 25 March 2014.

2.     Approved the Board of Directors’ Report for the financial year ended 31 December 2014.

3.     Received the Report of the Auditors on the Consolidated Financial Statements for the year ended 31 December 2014.

4.     Approved the audited Consolidated Financial Statements for the year ended 31 December 2014.

5.     Discussed & approved the appropriations from the net profit for the financial year ended 31 December 2014.

a.     Transfer of US$1,561,500 to Legal Reserve;

b.     Payment of dividend of 5 cent per share or 5% of the paid up capital amounting to US$ 9,901,609 for the year ended 31 December 2014.

c.     Transfer the amount of US$ 4,151,891 to retained earnings.

d.     Payment of remuneration to Directors amounting to US$ 305,000 for the year ended 31 December 2014.

6.     Approved the Corporate Governance Report for the year 2014.

7.     Absolved the Directors from legal liability for the financial year ended   31 December 2014.

8.    Reappointed KMPG as Auditors for the financial year 2015, and authorized Board of Directors to determine their remuneration

Last Date For Dividend EntitlementMonday, March 23, 2015Ex-Dividend DateTuesday, March 24, 2015
Register Closing (Settlement) DateWednesday, March 25, 2015Trading Suspension Date
Trading Resuming DateDividends Payment DateThursday, April 02, 2015
Payment EntityMeeting VenueArig House, Diplomatic Area, Bahrain
1 File(s)
Meeting Date/TimeMar 25, 2014 12:30:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss18.6 millionCash Dividend
Bonus Share
Announcements/Resolutions

1. Approved the Minutes of the previous Ordinary General Assembly meeting held on 24 March 2013.

2. Approved the Board of Directors’ Report for the financial year ended 31 December 2013.

3. Received the Report of the Auditors on the Consolidated Financial Statements for the year ended 31 December 2013.

4. Approved the audited Financial Statements for the year ended 31 December 2013.

5. Approved the appropriations from the net profit for the financial year ended 31 December 2013.

a.     Transfer of US$1,862,000 to Legal Reserve;

b.     Transfer of the balance of net profit of US$ 16,741,000 to retained earnings.

6. Approved the Corporate Governance Report.

7. Absolved the Directors from legal liability for the financial year ended 31 December 2013.

8. Reappointed KMPG as Auditors for the financial year 2014, and authorized Board of Directors to determine their remuneration

9. Appointed two directors and elected seven directors to the Board for next three years, one of them subject to the approval of the Central Bank of Bahrain.

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension DateTuesday, March 25, 2014
Trading Resuming DateWednesday, March 26, 2014Dividends Payment Date
Payment EntityMeeting VenueArig House, Bahrain
1 File(s)
Meeting Date/TimeMar 24, 2013 12:30:00 PMType of MeetingExtraordinary Meeting
Net Profit/Loss12,385,000Cash Dividend
Bonus Share
Announcements/Resolutions

1.       To approve the amendment to article 17(i) of the memorandum & articles of association for fixing the term of the chairman & vice-chairman as three years or till the board remains in office.

2.       To approve the inclusion of clause (iii) to article 22 of the memorandum & articles of association that considers the participation of directors in the board meeting by means of telephone or video conference.   

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueCompany main branch
1 File(s)
Meeting Date/TimeMar 24, 2013 12:30:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss12,385,000Cash Dividend0%
Bonus Share0%
Announcements/Resolutions

1.       To receive and approve the board of Directors’ report for the financial year ended 31 December 2012

2.       To receive the Report of the Auditors on the consolidated financial statements for the year ended 31 december 2012

3.       To discuss and approve the consolidated statement of financial position and the consolidated statement of income for the financial year ended 31 december 2012

4.       To discuss and approve appropriations from the net profit for the financial year ended 31 december 2012

A.      Transfer of US$1526000 to legal reserve

B.      Transfer of the balance of net profit of US$13734000 to retained earnings

5.       To discuss corporate governance report

6.       To absolve the directors from legal liability for the financial year ended 31 december 2012

7.       To appoint or re-appoint auditors for the financial year 2013, and to fix their remuneration

8.       To delegate borrowing powers to the board of directors

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension DateSunday, March 24, 2013
Trading Resuming DateMonday, March 25, 2013Dividends Payment Date
Payment EntityMeeting VenueCompany main branch
1 File(s)
Meeting Date/TimeMar 24, 2013 12:30:00 PMType of MeetingAGM & EGM
Net Profit/Loss12,385,000.00Cash Dividend0%
Bonus Share0%
Announcements/Resolutions

AGM resolutions:

Approval of the directors' report on the activity of the Group during the financial year ended 31/12/2012
Approval of the auditors' report on the consolidated financial statements for the fiscal year ended 31/12/2012
Approval of the consolidated statement of financial position and consolidated income statement for the financial year ended 31/12/2012
Agree to leave the allocation of net profit for the financial year ended 31/12/2012, by transferring an amount of U.S. $ 1.526 million legal reserve and convert the remaining amount of the net profit of U.S. $ 13.734 million to retained earnings discuss the Corporate Governance Report
Discharge of the members of the Governing Council on the legal responsibilities of the company from liability for their actions for the financial year ended 31/12/2012
Re-appointment of the external auditors for the Company for the year 2013 and determine their remuneration
Authorize the Board of Directors of borrowing powers

EGM resolutions:

Adoption of the amendment in Article 17 (a) of the statute to determine the duration of the Chairman and Vice-President in office by 3 years or for as long as that remains the Council at its approval to add material (AAA) of item No. 22 of the Statute that rely Organ Sharingin meetings via telephone or video

Last Date For Dividend EntitlementEx-Dividend Date
Register Closing (Settlement) DateTrading Suspension Date
Trading Resuming DateDividends Payment Date
Payment EntityMeeting VenueThe company's headquarters
1 File(s)
Meeting Date/TimeMar 25, 2012 12:30:00 PMType of MeetingAnnual General Meeting
Net Profit/Loss(21,280,000) USDCash DividendN/A
Bonus ShareN/A
Announcements/ResolutionsApproved the report of the Board of Directors for the Group's activities during the financial year ended 31/12/2011-Approved the auditors' report on the consolidated financial statements for the fiscal year ended 31/12/2011 - Approved the consolidated statement of financial position and the consolidated income statement for the financial year ended 31/12/2011- Approved the Corporate Governance Report - Discharge of the members of the Governing Council on the legal responsibilities for the financial year ended 31/12/2011 - Approved and adoption out of the insertion of the Kuwait Stock Exchange - Approved the appointment or re-appointment of auditors for the fiscal year 2012 subject to the approval of the Central Bank of Bahrain and determine their fees
Last Date For Dividend EntitlementN/AEx-Dividend DateN/A
Register Closing (Settlement) DateN/ATrading Suspension Date25/03/2012
Trading Resuming Date26/03/2012Dividends Payment Date
Payment EntityMeeting VenueArig House, Building no. 131, Road no. 1702, Diplomatic Area 317, Manama, Kingdom of Bahrain
1 File(s)
Meeting Date/TimeMar 27, 2011 12:30:00 PMType of MeetingAnnual General Meeting
Net Profit/LossUSD 23,504,000Cash Dividend7.5%
Bonus Share
Announcements/Resolutions- الموافقة على تقرير مجلس الإدارة و تقرير مراجعين الحسابات عن السنة المالية المنتهية في 31/12/2010 - الموافقة على الميزانية العمومية و حساب الأرباح و الخسائر عن السنة المالية المنتهية في 31/12/2010 –الموافقة على توزيع أرباح نقدية بنسبة 7.5% - إبراء ذمة أعضاء مجلس الإدارة من المسؤولية عن السنة المالية المنتهية في 31/12/2010 - الموافقة على تعيين و إعادة تعيين مدققين الحسابات للسنة المنتهية 31/12/2011 و تحديد أتعابهم - الموافقة على تطبيق نظام حوكمة الشركات - الموافقة على انتخاب أعضاء مجلس الإدارة للسنوات الثلاث القادمة
Last Date For Dividend Entitlement27/03/2011Ex-Dividend Date28/03/2011
Register Closing (Settlement) Date29/03/2011Trading Suspension Date27/03/2011
Trading Resuming Date28/03/2011Dividends Payment Date
Payment EntityMeeting VenueArig House, Bahrain
Meeting Date/TimeMar 28, 2010 12:30:00 PMType of MeetingAnnual General Meeting
Net Profit/LossUSD 26,406,000Cash Dividend6.25%
Bonus Share
Announcements/Resolutions- Approved the report of the BOD & the auditor’s report for the year ended 31/12/2009 - Approved balance sheet and the Income Statement of the company for the year ended 31/12/2009 - Absolved the members of the Board of Directors from responsibilities for the year ended 31/12/2009– Approved to appoint and re-appoint auditors for the Financial Year 2010 and approved their fees – Approved Distributing 6.25% cash dividends
Last Date For Dividend Entitlement28/03/2010Ex-Dividend Date29/03/2010
Register Closing (Settlement) Date30/03/2010Trading Suspension Date28/03/2010
Trading Resuming Date29/03/2010Dividends Payment Date
Payment EntityMeeting VenueArig House, Bahrain
Top ShareholdersLast Refreshed at: 28 June 2017

Individual Investors

ShareholdersPercentage
جهاز الامارات للاستثمار 13.85%
GENERAL PENSION AND SOCIAL SECURITY AUTH12.50%
EMIRATES DEVELOPMENT BANK 5.00%

No data could be found.
Foreign Investments View all
National GCC Arab Other Nationalities
Country of Origin Actual Permitted Actual Permitted Actual Permitted Actual Permitted As of Date:
Kindom of Bahrai 56.75% 100% 41.9% 100% 1.18% 100% 0.17% 100% 28-06-2017
Showing Last 10 Corporate Governance Reports - ARIG View all
No data could be found.
Showing Corporate Actions - ARIG View all
Year2017Corporate Action TypeCash Dividends
Last Date For Action Entitlement3/20/2017Ex-Dividend Date3/21/2017
Register Closing (Settlement) Date3/22/2017Trading Suspension Date1/1/1900
Trading Resuming Date1/1/1900Run (Effective) Date1/1/1900
Corporate Action DetailsDistribute 5% cash dividends as agreed at the GA held on 20/03/2017
Year2015Corporate Action TypeCash Dividends
Last Date For Action EntitlementNot AvailableEx-Dividend DateNot Available
Register Closing (Settlement) DateNot AvailableTrading Suspension DateNot Available
Trading Resuming DateNot AvailableRun (Effective) DateNot Available
Corporate Action DetailsDistribute 5% cash dividends as agreed at the AGM held on 23/03/2015
Year2011Corporate Action TypeCash Dividends Distribution
Last Date For Action Entitlement3/27/2011Ex-Dividend Date3/28/2011
Register Closing (Settlement) Date3/29/2011Trading Suspension Date3/27/2011
Trading Resuming Date3/28/2011Run (Effective) DateNot Available
Corporate Action DetailsDistribute 7.5% cash dividends as agreed at the AGM held on 27/03/2011
Year2010Corporate Action TypeCash Dividends Distribution
Last Date For Action Entitlement3/28/2010Ex-Dividend Date3/29/2010
Register Closing (Settlement) Date3/30/2010Trading Suspension Date3/28/2010
Trading Resuming Date3/29/2010Run (Effective) DateNot Available
Corporate Action DetailsDistribute 6.25% cash dividends as agreed at the AGM held on 28/03/2010.
Year2008Corporate Action TypeCash Dividends Distribution
Last Date For Action Entitlement3/30/2008Ex-Dividend Date3/31/2008
Register Closing (Settlement) Date4/1/2008Trading Suspension Date3/30/2008
Trading Resuming Date3/31/2008Run (Effective) DateNot Available
Corporate Action DetailsDistribute 7.50% cash dividends as agreed in their AGM held on 30/03/2008.
Year2006Corporate Action Typebonus shares
Last Date For Action Entitlement3/29/2006Ex-Dividend Date3/30/2006
Register Closing (Settlement) Date4/1/2006Trading Suspension DateNot Available
Trading Resuming Date4/1/2006Run (Effective) Date4/30/2006
Corporate Action DetailsIssue bonus shares in the ratio of (10%) activated as agreed at the Annual General Meeting held on 29/03/2006. Number of shares becomes 220000000.
Disclaimer
  • Ownership percentage is subject to change based on several reasons including the following:
    1. Trading activity.
    2. Off-Market Transactions such as family and inheritance transfers.
    3. Changes in the nationality status of investors.
    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.
    5. Capital increase by issuing new shares to a strategic investor.
    6. Converting Bonds into shares.
    7. Equity added to the equity of the associated group.
    8. Direct Deals.

 

Percentages are updated daily after 4 pm
Disclaimer
The above published Ownership Percentages:
  • Are updated daily at the end of every trading day based on date of trade and not settlement date.

  • The ownership percentages are rounded off to 2 decimal places

  • Ownership percentages are subject to change due to the following:

    1. Trading activities.

    2. Off-Market Transactions such as family and inheritance transfers.

    3. Changes in the nationality status of investors.

    4. Securities deposits and withdrawals to and from DFM for Dual listed companies.

    5. Capital increases, by issuing new shares to Strategic investor

    6. Converting bonds or Sukuk into shares.

    7. Changes of associated group’s ownership.

    8. Direct Deals. (The ownership percentage is changed immediately after the execution of the deal).

    9. Failed trade settlement.


DISCLAIMER

The information provided in this document is only available in Arabic due to the (Dubai court attestations only being in Arabic herein after referred thereto as (“Information”) is provided by way of general information and comment only. While reasonable care has been taken in producing this Information, changes in circumstances may occur at any time and may impact on the accuracy of the Information. The Information does not constitute professional advice or provision of any kind of services and should not be relied upon as such.  Dubai Financial Market (“DFM”) and/or its affiliates, officers or employees,  does not give any warranty or representation as to the accuracy, reliability, timeliness or completeness of the Information now or in the future. DFM shall not be liable for any loss suffered, directly or indirectly by any person acting in reliance upon the Information contained herein. 


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