Allianz Saudi Fransi Cooperative Insurance Co. Announces the Results of the 22nd Ordinary General Assembly Meeting, (First Meeting)

2022-06-23 09:57:33

Element ListExplanation
Introduction Allianz Saudi Fransi Cooperative Insurance Company announces the results of the Ordinary General Assembly meeting (the first meeting), which was held at 7:30 PM on Wednesday 23/11/1443H corresponding to 22/06/2022G, which was held in presence in Riyadh at the company’s headquarters At Al Safwa Commercial Building - Malaz - Khurais Road - near the Gulf Bridge, as well as by modern technology, where the quorum for the meeting was completed by 65.63% of the shares represented in the company's capital.
City and Location of the General Assembly's Meeting At the headquarters of the company’s headquarters located in Al Safwa Commercial Building - Khurais Road - near the Gulf Bridge - Malaz District - in Riyadh, which was held in presence and through modern technology
Date of the General Assembly's Meeting 2022-06-22 Corresponding to 1443-11-23
Time of the General Assembly's Meeting 19:30
Percentage of Attending Shareholders 65.63%
Names of the Board of Directors' Members Present at the General Assembly's Meeting and Names of the Absentees The meeting was attended by the following board members: 1. Eng. Al-Waleed Al-Dryyan (Chairman of the Board). 2. Mr. Mazen Al-Tamimi - Vice Chairman of the Board of Directors 3. Mr. Antoine Issa - Member of the Board of Directors - Chairman of the Executive Committee 4. Dr. Abdullah Al-Husseini - Member of the Board of Directors - Chairman of the Audit Committee 5. Mr. Basel bin Jabr – Member of the Board of Directors - Chairman of the investment committee 6. Mr. Anuj Agarwal - Chief Executive Officer and Member of the Board of Directors The following members of the Board of Directors did not attend the meeting: 1. Mr. Kamel Salah Al-Din Al-Munajjed - Member of the Board of Directors - Chairman of the Remuneration and Nomination Committee 2. Mr. Mohamed Amin Benabbou - Member of the Board of Directors -Chairman of the Risk Committee 3. Mr. Patrick Theils - Member of the Board of Directors
Names of the Chairmen of the Committees Present at the General Assembly's Meeting or Members of such Committees Attending on Their Behalf 1. Mr. Antoine Issa - Member of the Board of Directors - Chairman of the Executive Committee 2. Dr. Abdullah Al-Husseini - Member of the Board of Directors - Chairman of the Audit Committee 3. Mr. Basel bin Jabr – Member of the Board of Directors - Chairman of the Investment Committee
Voting Results on the Items of the General Assembly's Meeting Agenda's 1) Approval of the Board’s report for the fiscal year ended on 31/12/2021. 2) Approval of the financial statements of the fiscal year ended on 31/12/2021. 3) Approval of the auditor's report for the fiscal year ended on 31/12/2021. 4) Approval of the discharge of the Board members from liability for the fiscal year ended on 2021. 5) Approval of the appointment of the Company's auditors from among the candidates, based on a recommendation by the Audit Committee, to examine, review and audit the financial statements of the second, third and fourth quarter and the annual financial statements of the fiscal year 2022 and the first quarter of the fiscal year 2023, and determine their fees. They are: Al-Bassam & Partners Office Allied Auditors. Price Waterhouse Coopers office. 6) Approval of the businesses and contracts that will take place between Allianz Saudi Fransi Cooperative Insurance Company and Banque Saudi Fransi, in which Mr. Mazen Al-Tamimi, a member of the Board of Allianz Saudi Fransi Cooperative Insurance Company and an Executive Director of Banque Saudi Fransi, has an indirect interest, which are the management of investment portfolios submitted to the Company by Banque Saudi Fransi and its affiliates. There are no preferential terms in such businesses and contracts. The total value of these businesses in 2021 is SAR 515,227,924 7) Approval of the businesses and contracts that will take place between Allianz Saudi Fransi Cooperative Insurance Company and Banque Saudi Fransi, in which Mr. Mazen Al-Tamimi, a member of the Board of Allianz Saudi Fransi Cooperative Insurance Company and an Executive Director of Banque Saudi Fransi, has an indirect interest, which are the banking and investment services provided to the Company by Banque Saudi Fransi and its affiliates. There are no preferential terms in such businesses and contracts. The total value of these businesses in 2021 is SAR 552,951,331. 8) Approval of the businesses and contracts that will take place between Allianz Saudi Fransi Cooperative Insurance Company and Banque Saudi Fransi, in which Mr. Mazen Al-Tamimi, a member of the Board of Allianz Saudi Fransi Cooperative Insurance Company and an Executive Director of Banque Saudi Fransi, has an indirect interest, which are the insurance business provided by the Company to Banque Saudi Fransi and its affiliates. There are no preferential terms in such businesses and contracts. The total value of these businesses in 2021 is SAR 75,781,561. 9) Approval of the businesses and contracts that will take place between Allianz Saudi Fransi Cooperative Insurance Company and Allianz Group and its affiliates, in which (Mr. Alwaleed Abdulraziq Saleh Al Dryaan, Mr. Patrick Telles, Mr.Antoine Jan Issa, Mr. Mohammed amin benabbou and Mr. Anuj Agarwal), members of the Board of Allianz Saudi Fransi Cooperative Insurance Company and executive directors of Allianz Group, have an indirect interest, which are the insurance and re-insurance businesses and the support services provided to the Company by Allianz Group and its affiliates. There are no preferential terms in such businesses and contracts. The total value of these businesses in 2021 is SAR 171,715,823. 10) Approval of the businesses and contracts that will take place between Allianz Saudi Fransi Cooperative Insurance Company and Data Quest SAL, an affiliate of Allianz Group, in which (Mr. Alwaleed Abdulraziq Saleh Al Dryaan, Mr. Patrick Telles, Mr. Antoine Jan Issa, Mr. Mohammed amin benabbou and Mr. Anuj Agarwal), members of the Board of Allianz Saudi Fransi Cooperative Insurance Company and executive directors of Allianz Group, have an indirect interest, which are the business of the Company's technical system, including maintenance, technical support and development, provided to the Company by Data Quest SAL. There are no preferential terms in such businesses and contracts. The total value of these businesses in 2021 is SAR 2,952,414. 11) Approval of the businesses and contracts that will take place between Allianz Saudi Fransi Cooperative Insurance Company and Nextcare Company, an affiliate of Allianz Group, which as Allianz Saudi Fransi Cooperative Insurance Company (represented by Mr. Anuj Agarwal – member of the Board) is a major shareholder in Nextcare Company, have an indirect interest, which are the business of claim management (medical insurance). There are no preferential terms in such businesses and contracts. The total value of these businesses in 2021 is SAR 1,267,868 . 12) Approval of the Board of Directors’ decision to appoint Mr. Patrick Thiels as a non-executive member of the Board of Directors starting from 01/09/2022 AD, to complete the Board’s term until the current session terminates on 07/08/2022 AD, succeeding the former member, Mr. Herve Glougan - Non-Executive -.