Meeting of the Board of Directors of Arab Re
The Board of Directors of the Arab Reinsurance Company held a meeting on 10/5/2018 in Beirut under the leadership of Sheikh Khaldoun Barakat and in the presence of all its members in order to monitor the activities of the company. The financial statements of the first quarter of year 2018 showed positive results and increases in premiums, which is a positive sign that will be reflected positively in the final results at year-end.
Moreover, in the second day, the General Assembly of the shareholders was held in order to approve the annual financial statements for the year-ended 31-12-2017, which posted profits of USD 4.5 million. The General Assembly resolved distribution of dividends equivalent to 5.5% of the paid-up capital.
On the other hand, the members of the board of directors were reelected for a second term of three years (2018-2021) without any changes. i.e. Sheikh Khaldoun Barakat as chairman, Mr. Tannous Feghali as vice-chairman and Mr. Salim Kojok as secretary of the board.