Orient Insurance Shareholders Approve 100% Capital Increase To Dh1 Billion To Support Growth

(MENAFN- Khaleej Times) Shareholders of Orient Insurance, a subsidiary of Al-Futtaim Group, have approved a 100 per cent increase in the company's share capital to Dh1 billion from Dh500 million as the insurer looks to strengthen its financial position and support future growth.

The decision was approved at the company's General Assembly meeting, following a recommendation from its Board of Directors.

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The proposed Dh500 million capital increase is expected to be implemented through the issuance of bonus shares to existing shareholders, rather than a new cash subscription.

However, the increase remains subject to regulatory approvals from the Capital Market Authority and the Central Bank of the UAE.

The capital increase follows a strong financial performance by Orient Insurance during the first half of 2026, when its net profit rose 8 per cent year-on-year to Dh545 million, compared with Dh503 million a year earlier.

Revenue increased 17 per cent to Dh5.22 billion, while total assets grew 18 per cent to Dh20.02 billion. The company's total equity also rose 9 per cent to Dh6.19 billion, reflecting continued growth in its financial position.

Strengthening capital base

Orient Insurance said the move forms part of its long-term capital strategy and is intended to support its expansion plans and strengthen its ability to pursue new opportunities across the insurance sector.

Omer Elamin, President of Orient Insurance Group, said the shareholders' approval represented an important step in the company's growth strategy.

"Strengthening our capital base is an important part of our long-term strategy, supporting our ability to grow sustainably, respond to evolving market needs and continue delivering value to our customers and shareholders," he said.

He added that the decision reflected confidence in the company's future and its commitment to maintaining a strong financial foundation.

Orient Insurance said it would announce further details on the implementation of the capital increase once the necessary regulatory approvals have been obtained.

Established in 1982, Orient Insurance provides personal and commercial insurance products in the UAE and across the GCC.

The company is part of Dubai-based Al-Futtaim Group, which operates in more than 20 countries across sectors including automotive, financial services, real estate, retail and healthcare.

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