Dubai: Orient Insurance shareholders approved a 100% increase in share capital, after shareholders gave a nod at the general assembly held on November 11. The company's share capital will increase from AED 500 million to AED 1 billion, the Al-Futtaim subsidiary announced.
The Dh500 million increase will come through bonus shares issued to existing shareholders. The Capital Market Authority and the Central Bank of the UAE are yet to sign-off on the proposal. Orient Insurance will disclose implementation details once the regulators sign off.
Omer Elamin, President of Orient Insurance Group, called the vote an important milestone. Shareholders are “responding to evolving market needs and we continue delivering value to our customers and shareholders. This decision reflects our confidence in the company's future and our commitment to maintaining a strong financial foundation," he added.
Earnings backdrop
Profit growth has run alongside the move. Orient reported net profit after tax of Dh727 million for the first nine months of 2026, up 10% from Dh658 million a year earlier. Insurance revenue rose 17% to Dh8.05 billion. Total equity reached Dh6.46 billion, up 7%. Total assets climbed 15% to Dh20.31 billion. The company earned Dh836 million for 2025, a 14.4% increase.
Considering the results, the share capital of Dh500 million sits far below the Dh6.46 billion in equity.
