Manama: Solidarity Bahrain following its successful merger between Solidarity General Takaful B.S.C. (c) and Al Ahlia Insurance Company B.S.C. held its Ordinary General Assembly Meeting chaired by AbdulEllah Al Qassimi, former Vice Chairman and attended by Board members Sharif Ahmadi and Venkatesan Muniswamy, shareholders and regulatory representatives.
During the meeting the shareholders approved Solidarity Bahrain Board of Directors. The newly-elected members are Tawfeeq Shehab, Ashraf Bseisu, Sharif Ahmadi, Dr. Nadhem Al Saleh, Venkatesan Muniswamy and Abhijit Singh.
The shareholders also approved the appointment of Shaikh Dr. Abdul Satar Abu Guda, Shaikh Mohsin Abdul Hussain Al Asfoor and Shaikh Dr. Osama Bahar as Shari’a Supervisory Board members of the Company.
“We are extremely pleased with the successful completion of the merger between Solidarity General Takaful with Al Ahlia Insurance. The merger is expected to result in significant benefits to the shareholders and policyholders of the merged entity. Solidarity Bahrain is unequivocally today a primary national Insurance player providing services to thousands of customers, and contributing significantly to the growth of the financial services sector in Bahrain. The newly-elected board members represent key constituents of the industry in which we function, and we expect that their experience will provide us with the momentum to continue Solidarity’s drive towards achieving even greater results,” Al Qassimi said.
“Finally, we would like to extend our sincere thanks to the shareholders for their support. We would also like to extend our appreciation to the Central Bank of Bahrain’s Capital Market Supervision Directorate, the Insurance Directorate, the Ministry of Industry, Commerce and Tourism, and all the concerned authorities for their continuous support and guidance.
It is worth mentioning that the newly-elected board have held the first board meet on 27th December 2017 in which Tawfeeq Shehab was appointed as Chairman and Ashraf Bseisu as Vice Chairman to the board of Solidarity Bahrain.
