CHUBB Arabia Cooperative Insurance Co. Announces the Results of the General Assembly Meeting ( First Meeting ) through Modern Technology Means .
| Element List | Explanation |
|---|---|
| Introduction | The Board of Directors of Chubb Arabia for Cooperative Insurance is pleased to announce the results of the 14h Annual General Assembly (first meeting). |
| City and Location of the General Assembly's Meeting | Through modern technology means from the Company’s office in Khobar City (using Tadawulaty system) |
| Date of the General Assembly's Meeting | 2022-05-31 Corresponding to 1443-11-01 |
| Time of the General Assembly's Meeting | 18:30 |
| Percentage of Attending Shareholders | 63.73% |
| Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees | Attendees:
1- Eng. Nabil bin Yusef Jokhdar (Chairman of the Board) 2- Mr. Stephen Brian Dixon (Vice Chairman) 3- Mr. Abdulaziz bin Abdul-Karim Elkhereji 4- Mr. Mohammed bin Abdul Karim Elkhereji 5- Mr. Serge Michel Osouf 6- Mr. Giles Richard Ward 7- Mr. Christine Raymond Mounis 8- Mr. Wahdan Bin Sulaiman AlQadi 9- Eng. Hisham bin Abdulrahman Elkhereji |
| Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf | Attendees:
1- Mr. Abdulaziz Alkhereiji (Chairman of the Executive Committee) 2- Mr. Abdullah bin Khalaf Al-Yousef (Chairman of the Audit Committee) 3- Mr. Wahdan bin Sulaiman AlQadi (Chairman of the Nominations and Remuneration Committee) 4- Mr. Christine Raymond Mounis (Chairman of the Risk Committee) 5- Mr. Muhammad bin Abdul Karim Elkhereji (Chairman of the Investment Committee) |
| Voting Results on the Items of the General Assembly's Meeting Agenda's | 1. Approval on the Board of Directors' report for the fiscal year ending on 31/12/2021G.
2. Approval on the auditor/s report on the Company’s accounts for the fiscal year ending on 31/12/2021G. 3. Approval on the financial statements for the fiscal year ending on 31/12/2021G. 4. Approval on the business and contracts concluded between the company and the Al-Khereiji Real Estate Company, which the members of the Board Mr. Mohammed bin Abdul Karim Al-Khereiji and Mr. Abdul Aziz bin Abdul Karim Al-Khereiji indirect interest in them as owners, which are the insurance contracts, and the transactions for 2021 amounted to SR. (298,840) and there are no preferential conditions. 5. Approval on the business and contracts concluded between the company and the Al-Khereiji Trading and Electronics company, which the members of the Board Mr. Mohammed bin Abdul Karim Al-Khereiji and Mr. Abdul Aziz bin Abdul Karim Al-Khereiji indirect interest in them as owners. Which are the insurance contracts, and the transactions for 2021 amounted to SR. (48,716) and there are no preferential conditions. 6. Approval on the business and contracts concluded between the Company and the member companies of the Chubb Group of which Chubb INA International Holdings Ltd. is also a member; represented by three Board Members and they are Mr. Stephen Brian Dixon, Mr. Serge Michel Osouf and Mr. Giles Richard Ward. , which consist of placed reinsurance transactions with total premiums SR. (45,701,571), and which contain no preferential conditions. 7. Approval on the business and contracts concluded between the company and Al-Khereiji Trading and Electronics Company. Which the members of the Board Mr. Mohammed bin Abdul Karim Al-Khereiji and Mr. Abdul Aziz bin Abdul Karim Al-Khereiji indirect interest in them as owners. and its rental contracts for the company head office, and Riyadh branch buildings, noting that transactions for 2021 amounted to SR. (1,463,631) and there are no preferential conditions. 8. Approval on the business and contracts concluded between the company and the General Maintenance Center for cars owned by the International Company for Trade and Contracting Services, which the members of the Board Mr. Mohammed bin Abdul Karim Al-Khereiji and Mr. Abdul Aziz bin Abdul Karim Al-Khereiji indirect interest in them as owners. Which is the provision of maintenance services for customer vehicles, noting that transactions for 2021 amounted to SR. (3,175,471) and there are no preferential conditions. 9. Approval on the business and contracts concluded between the company and RFIB Saudi Arabia for reinsurance brokerage where the Al-Khereiji Investment Company owns a share in RFIB company, which the members of the Board of Directors Mr. Mohammed bin Abdul Karim Al-Khereiji and Mr. Abdul Aziz bin Abdul Karim Al-Khereiji indirect interest in them as owners, which consist of placed reinsurance transactions with total premiums SR. (6,869,410), and which contain no preferential conditions. 10. Approval on the business and contracts concluded between the company and the Al-Khereiji Construction company, which the members of the Board Mr. Mohammed bin Abdul Karim Al-Khereiji and Mr. Abdul Aziz bin Abdul Karim Al-Khereiji indirect interest in them as owners. Which are the insurance contracts, and the transactions for 2021 amounted to SR. (4,279) and there are no preferential conditions. 11. Approval on appointing the (auditor/s) for the Company from among the candidates who are KPMG Professional Services and PKF Al Bassam & Allied Accountants based on the Audit Committee's recommendation. The appointed auditor/s shall examine, review and audit the (second, and third) quarter and annual financial statements, of the fiscal year 2022G., and the first quarter of the fiscal year 2023G, and the determination of the auditor's (s’) remuneration. 12. Approval on paying an amount of (SAR 3,016,137) as remuneration to the Board members for the fiscal year ending on 31/12/2021G 13. Approval on the Board of Directors recommendation of non-distribution of dividends for the fiscal year 2021. 14. Approval on amending the work policy of the Audit Committee (TOR). |
| Additional Information | If there are any inquiries please contact Investor Relations at:
Tel: 0138047662 E-mail : [email protected] |
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