Trust and transparency, creating value for stakeholders
Financial Reports
We take pride in being an investor-friendly organisation with a robust and disciplined approach to corporate governance and transparent, timely and effective reporting.
2021 Annual Report
Financial Highlights
Components
2023 (USD)
2022 (USD)
Reinsurance Revenue
109,493,317
84,642,232
Net Reinsurance Results
7,135,318
5,922,127
Net Investment and Other Income
7,056,855
5,873,784
Net Profit After Tax
6,646,801
5,522,824
Net Equity
83,768,297
73,703,174
Combined Ratio
91%
91%
Financial Reports 2020
We are committed to providing innovative and responsive solutions that meet our stakeholders’ needs of today and goals of tomorrow.
2020 - Download report
Financial Reports 2020
We are committed to providing innovative and responsive solutions that meet our stakeholders’ needs of today and goals of tomorrow.
2019 - Download report
Financial Reports 2020
We are committed to providing innovative and responsive solutions that meet our stakeholders’ needs of today and goals of tomorrow.
We are committed to providing innovative and responsive solutions that meet our stakeholders’ needs of today and goals of tomorrow.
12/07/2021
We are committed to providing innovative and responsive solutions that meet our stakeholders’ needs of today and goals of tomorrow.
12/07/2021
We are committed to providing innovative and responsive solutions that meet our stakeholders’ needs of today and goals of tomorrow.
Shareholders
Shareholding structure
As of 31 december 2023
Trust Insurance and Reinsurance Company (Trust Re), Bahrain
27.2%
Qatar General Insurance and Reinsurance Company (QGIRCO), Qatar
22.3%
Ziliano Investments, Cyprus
9.1%
Zawawi Trading Company, Oman
8.6%
Omar Zawawi Establishment (OMZEST), Oman
8.4%
Others
24.4%
Trust Re
A closed joint-stock company registered in the Kingdom of Bahrain, with authorised capital of US$ 500 million, and issued and paid-up capital of US$ 250 million. Comprises over 280 employees spread across offices in Bahrain, Cyprus, Labuan (Malaysia) and Morocco and India.
A public company incorporated in Qatar providing general insurance and reinsurance services for real estate, investment, manufacturing, trading, and contracting, and Takaful. The company is listed on the Qatar Exchange.
A leading multi-faceted company in Oman with representations of some of the internationally renowned and leading brands, and operating under four business divisions: Automotive, Utilities, Engineering & Projects, and ICT.
A leading Omani business conglomerate with a business volume in excess of USD 1 Billion, OMZEST has been a partner in Oman’s progress through 75 wholly owned and associate companies across diverse industry segments, and thousands of employees.
The Audit Committee assists the Board in fulfilling its oversight responsibilities for financial reporting, internal control processes and the risk-based internal audit cycles.
The purpose of the Risk Committee is to assist the Board in fulfilling its corporate governance oversight responsibilities with regard to the identification, evaluation, and mitigation of strategic, operational and external environment risks. The committee has an overall responsibility for monitoring and approving the risk management framework of the company.
The Nomination and Remuneration Committee's primary functions are to: assess required and necessary competencies of Board members, review Board succession plans, evaluate the Board's performance and make recommendations to the Board on executive remuneration and incentive policies, remuneration packages of senior management, recruitment, retention and termination policies for senior management, incentive schemes, pension arrangements and the remuneration framework for the directors. Lastly, the Committee monitors the overall organizational structure and ensures that executive succession planning is in place.