Emirati Insurer Aman Pursues Restructuring as Third-quarter Loss Escalates

05:08 AM EST, 12/29/2025 (MT Newswires) -- The board of Dubai Islamic Insurance & Reinsurance (DFM:AMAN), d/b/a Aman, on Monday announced its decision to put together and lodge a comprehensive plan for the company's overhaul, days after reporting a bigger attributable loss for the third quarter. Reorganization plans have been forming at the Dubai-based insurer for some time, as Aman has already held talks with several specialized consultancy firms in the areas of restructuring and risk management for help in completing the process and getting the green signal from the Central Bank of the United Arab Emirates and the Securities and Commodities Authority. Next, Aman will call a general assembly meeting to review its proposed restructuring plan, which is expected to strengthen the company's financial position and boost operational efficiency. Plans of the potential shakeup followed Aman's results for the three months ended Sept. 30, which showed that net loss attributable to shareholders expanded to 4.7 million Emirati dirhams from 2.6 million dirhams year over year, while takaful revenue shrank to 7.9 million dirhams from 14.4 million dirhams. For the nine-month term, attributable loss increased to 14.2 million dirhams from 13 million dirhams annually, while revenue declined to 30.4 million dirhams from 42.5 million dirhams. Aman also considered exiting the insurance sector to transform into an investment firm, but the counterparties terminated the respective deals, the insurer said Dec. 25.