Recapitalization of Dhofar Insurance

Met on 18 January 2018 in an extraordinary general assembly, the shareholders of Dhofar Insurance took a number of decisions, including that of raising the authorized share capital from 20 million OMR (52.1 million USD) to 30 million OMR (78.1 million USD).

The purpose of this meeting was to financially restructure the company and strengthen its shareholder's equity. It is following theses measures that Capital Market Authority (CMA) canceled its decision to suspend the company's underwriting of some classes of business.

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