Our biggest achievement at Allianz Saudi Fransi was the issuing of our Initial Public Offering in March 2007, followed by the successful incorporation of ASF in the Kingdom of Saudi Arabia during the First General Assembly held in June 2007. In addition to that, we have been granted the operation license in March 2008, providing us credibility and trust within the market. Our figures for the fiscal year ending 31st December 2008 are showing SAR 77.9 millions of Gross Written Premiums, representing the achievement of the company since September 2008, whereby the Company has received products’ approval for Medical & Engineering businesses.

This is showing a very good potential for the company as soon as it will launch its full products range. Furthermore, the General Assembly held on 18th January 2009 approved the transfer of the business to ASF, previously issued under InSaudi Insurance Company (Bahrain). The Portfolio of the Company will be transferred to ASF with effect from 1st January 2009 and represents Gross Written Premiums of SAR 139.7 millions approximately. This will further consolidate the position of the Company in the Kingdom of Saudi Arabia.