Abu Dhabi – Mubasher: United Insurance Company’s board of directors accepted the resignation of its chairman Saqr Saeed Ghobash, and appointed his deputy Ahmed Al Naem as successor.
The board said that the Ghobash’s resignation was due to preoccupation with official duties.
According to a bourse filing, the board is made up of three members, namely Chakib Bouayad, Khaled Al Mazrouei and Adi Hattab.
During its meeting, the board also discussed a potential entry by a strategic investor who is interested to acquire a significant stake in the company.
The company, which is listed in Abu Dhabi, registered AED 61.8 million ($16.82 million) losses during the fiscal year 2015 as compared to AED 51.83 million ($14.11 million) a year earlier.
