Independent Auditor's Report

Report on Other Legal and Regulatory Requirements

Further, as required by the UAE Federal Law No. 32 of 2021, we report that for the year ended 31 December 2023:

1. We have obtained all the information we considered necessary for the purposes of our audit;
2. The financial statements have been prepared and comply, in all material respects, with the applicable provisions of the UAE Federal Law No. 32 of 2021;
3. The Company has maintained proper books of account;
4. The financial information included in the Chairman’s report is consistent with the books of account of the Company;
5. As disclosed in Note 6 to the financial statements, the Company has made investment in securities as at 31 December 2023;
6. Note 17 to the financial statements discloses material related party transactions and balances, and the terms under which they were conducted;
7. The Company has not made any social contributions during the year ended 31 December 2023;
8. Based on the information that has been made available to us nothing has come to our attention which causes us to believe that the Company has, during the financial year ended 31 December 2023, contravened any of the applicable provisions of the UAE Federal Law No. 32 of 2021, or Articles of Association of the Company, which would materially affect its activities or its financial position as at 31 December 2023.

Further, as required by the Federal Decree Law No. (48) of 2023 Regulating Insurance Activities and the related financial Regulations for Insurance Companies, we report that we have obtained all the information and explanations we considered necessary for the purpose of our audit.

 

Crowe Mak,

Umesh Narayanappa

Partner

Registered Auditor Number: 1234

Abu Dhabi, U.A.E

29 March 2024