1. Approving the External auditors report for the financial year ended on 31/12/2022 after discussed.
2. The Company’s annual financial statements for the financial year ended on 31/12/2022 was viewed and discussed
3. The Board of Directors report for the financial year ended on 31/12/2022 was viewed and discussed.
4. Approving the releasing liability of the board members for the year ended on 31/12/2022.
5. Approving appointment of the External Auditors among the nominated as recommended by the Audit Committee to audit and review the company’s financial statements for the second, third quarter, and annual statements for the year 2023 and first quarter of 2024, and determination of their fees are as follows:
• El Sayed El Ayouty & Co. Certified Public Accountant.
• Al Azem, AlSudairy, Al Shaikh & Partners Certified Public Accountant.
6. Approving on the Board of Directors’ remuneration at SAR 3,933,530 for the year ended on 31/12/2022.
7. Approving on the business and contracts between the Company and Chairman Mr. Sulaiman Abdullah Al Kadi as he has a direct interest. The business is related to motor insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 22,574.77 based on commercial bases without any preferential treatment.
8. Voting on the business and contracts between the Company and KAMCO Group, which the Board member Mr. Khalifa Abdullatif Al Mulhem has an indirect interest as he is a Chairman of the Company and owner. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 45,640 based on commercial bases without any preferential treatment
9. Approving on the business and contracts between the Company and Al Jazeera Support Services Company, which the Board member Mr. Khalifa Abdullatif Al Mulhem has an indirect interest as he is a Chairman of the Company. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 2,187,416.17 based on commercial bases without any preferential treatment
10. Approving onthe business and contracts between the Company and Board Member Mr. Khalifa Abdullatif Al Mulhiem as he has a direct interest. The business is related to motor insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 21,990.61 based on commercial bases without any preferential treatment
11. Approving on the business and contracts between the Company and Advanced Petrochemical Company, which the Board Mr. Khalifa Abdullatif Al Mulhiem and Mr. Waleed Mohammed Al Jafaari have an indirect interest in such transactions as they are Board Member of the company. The business is related to motor insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 120,188.56 based on commercial bases without any preferential treatment.
12. Approving on the business and contracts between the Company and Al Dawaa Medical Services Company, which the Board member Mr. Waleed Mohammed Al Jafaari has an indirect interest as he is the Chairman of the Company. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 4,697,699.77 based on commercial bases without any preferential treatment.
13. Approving on the business and contracts between the Company and Eastern Province Cement Company, which the Board member Mr. Waleed Mohammed Al Jafaari has an indirect interest as he is a Board Member. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 1,617,280.36 based on commercial bases without any preferential treatment
14. Approving on the business and contracts between the Company Takween Advanced Industries Company, which the Board member Mr. Jameel Abdullah Al Molhem has indirect interest as he is the Managing Director. The business is related to medical insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 490,345.65 based on commercial bases without any preferential treatment
15. Approving on the business and contracts between the Company and Saudi Telecom Company, which the Board member Mr. Jameel Abdullah Al Molhem has indirect interest as he is a Board Member. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 739,086.31 based on commercial bases without any preferential treatment.
16. Approving on the business and contracts between the Company and Board Member Mr. Jameel Abdullah Al Molhem as he has a direct interest. The business is related to Motor insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 18,581.31 based on commercial bases without any preferential treatment.
17. Approving on the business and contracts between the Company and Electrical Industries Company, which the Board member Mr. Jameel Abdullah Al Molhem has indirect interest as he is a Board Member. The business is related to Liability insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 249,400 based on commercial bases without any preferential treatment
18. Approving on the business and contracts between the Company and Board member Dr. Solaiman Abdulaziz Al Twaijri as he has a direct interest. The business is related to vehicle insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 6,298.25 based on commercial bases without any preferential treatment.
19. Approving on the business and contracts between the Company and Saudi Electricity company, which the Board Member Dr. Solaiman Abdulaziz Al Twaijri has indirect interest as he is Board member in the company. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 24,368,141 based on commercial bases without any preferential treatment
20. Approving on the business and contracts between the Company and Acceleration Company, which the Board member Mr. Hatem Fahad Balghoneim has indirect interest as he is a chairman of the Board and senior executive in the company. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 424,742.97 based on commercial bases without any preferential treatment.
21. Approving on the business and contracts between the Company and Naft Energy company, which the Board member Mr. Hatem Fahad Balghoneim has indirect interest as he is a chairman of the Board and senior executive in the company. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 416,714 based on commercial bases without any preferential treatment.
22. Approving on the business and contracts between the Company and Board member Mr. Hatem Fahad Balghoneim as he has a direct interest. The business is related to Motor insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 6,645 based on commercial bases without any preferential treatment.
23. Approving on the business and contracts between the Company and Arab National Bank, which the Board member Mr. Hesham Abdullatif Al Jabr has an indirect interest as he is a Board member. The business is related to Motor insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 8,863,646.28 based on commercial bases without any preferential treatment.
24. Approving on the business and contracts between the Company and Canned Soft Drinks Factory, which the Board member Mr. Hesham Abdullatif Al Jabr has an indirect interest as he is a senior executive in the company. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 570,714.16 based on commercial bases without any preferential treatment.
25. Approving on the business and contracts between the Company and Gulf Carton Factory Company, which the Board member Mr. Hesham Abdullatif Al Jabr has an indirect interest as he is a Board member. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 202,936.38 based on commercial bases without any preferential treatment.
26. Approving on the business and contracts between the Company and Haier & Aljabr Saudi Electronics Trading Company, which the Board member Mr. Hesham Abdullatif Al Jabr has an indirect interest as he is a senior executive in the company. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 32,037 based on commercial bases without any preferential treatment.
27. Approving on the business and contracts between the Company and Dar Wa Emaar Company, which the Board member Mr. Osama Mirza Al Khunaizi has an indirect interest as he is a Board member and senior executive in the company. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 109,123.30 based on commercial bases without any preferential treatment:
28. Approving on the business and contracts between the Company and Board member Mr. Osama Mirza Al Khunaizi has a direct interest. The business is related to Motor insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 19,848 based on commercial bases without any preferential treatment.
29. Approving on the business and contracts between the Company and Al Ittefaq Steel Products Company, which the Board member Mr. Abdulaziz Saud AlShabeebi has an indirect interest as he is a Board member. The business is related to several insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 1,545,386.31 based on commercial bases without any preferential treatment.
30. Approving on the business and contracts between the Company and Chairman Mr. Abdullatif Khalifa Almulhiem as he has a direct interest. The business is related to Motor insurance policies for one year. Note that last year FY 2022 total insurance premiums was SAR 12,729.42 based on commercial bases without any preferential treatment.
31. Approving on the business and contracts between the Company and Board Member Dr. Solaiman Abdulaziz Al Twaijri to provide consultancy services, which include supervising the IFRS 17 Insurance Contract project implementation, with a remuneration of SAR 155,000 for the year 2022 including sitting fees of total 2 meetings, based on commercial bases without any preferential treatment.
