VISION

Solidarity Group Holding BSC (c) “Solidarity” or “the Group” vision is to be a leading regional Islamic-oriented financial services group focusing on Islamic insurance and related products.

MISSION

Operate and invest strategically in the MENA region and Asia in a portfolio of companies that provide a range of Shari’a compliant Islamic insurance and related products.

VALUES

As a responsible corporate member of the communities it serves, Solidarity Group Holding values:

  • Commitment to Islamic Finance
  • Transparency
  • Social Responsibility
  • Teamwork & Partnership

CHAIRMAN'S MESSAGE

Solidarity Group Holding (The Group), since its inception, had a vision to be a leading regional Islamic-oriented financial services group focusing on Islamic insurance and related products with a mission to operate and invest in the MENA region and Asia. The Group currently operates in the Kingdom of Bahrain, Hashemite Kingdom of Jordan and Kingdom of Saudi Arabia through its two subsidiaries and an Associate.

SOLIDARITY GROUP PROFILE

Solidarity Group Holding is committed to becoming the world’s leading international Islamic-oriented financial-service group in the world. The company plans to offer superior returns, world-class customer service, avant-grade packages and innovative thinking to its shareholders.

Solidarity Group's authorised capital of $500 million and its paid-up capital of $184 million are being invested toward further improving its performance and quality of client services. As a responsible corporate member of the communities it serves, the company values innovation, integrity, social responsibility, teamwork and partnership as well as transparency as part of its day-to-day operations.

CORPORATE GOVERNANCE

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BOARD OF DIRECTORS

H.E. Shaikh Khalid Al Mashani

Chairman

Zayed Ali Al Amin

Vice Chairman

Hisham Saleh Al Saie

Director

Rafik Nayed

Director

Dr. Abdulrazzaq Al Qahtani

Director

Bashar Nass

Director

Abdullatif Al Rayes

Director

Shaikh Mohammed Al Khalifa

Director

EXECUTIVE MANAGEMENT

Group Chief Executive, Solidarity Group Holding BSC (c)

  • Date of joining – 14th August 2006
  • Masters’ in Business Management and Information System from the London School of Economics, United Kingdom and Bachelor’s degree from Southern Methodist University in the United States of America
  • An Associate Member of the Chartered Insurance Institute of the UK and an Associate Member of the American Institute of Management Accountants
  • Over 30 years of experience in the Insurance and Financial services

Current Positions:

  • Chairman of Solidarity Takaful SARL, Luxembourg
  • Chairman of Solid Ventures W.L.L., Bahrain
  • Chairman of Solid Capital W.L.L, Bahrain
  • Chairman of the Arab War Risk Insurance Syndicate (AWRIS)
  • Board Member and Member of the Executive Committee and Member of the Nomination & Corporate Governance Committee and Member of the Remuneration Committee of Solidarity Bahrain B.S.C, Bahrain
  • Board Member and Member of the Executive Committee of Solidarity First Insurance Company Plc., Jordan
  • Board Member and Member of the Executive Committee, Aljazira Takaful Taawuni Co., KSA
  • Board Member and Member of Executive Committee & Member of Investment Committee of United Insurance Company B.S.C. (c), Bahrain
  • Board Member and Chairman of Remuneration, Nomination, & Corporate Governance Committee, Bahrain Institute of Banking & Finance (BIBF), Bahrain

Previous Positions:

  • Formerly, Chairman of the Bahrain Insurance Association (BIA)
  • Formerly, President of the General Arab Insurance Federation (GAIF)
  • Formerly, Board Member and Member of the Executive Committee of the Bank of Bahrain and Kuwait (BBK), Bahrain

Ashraf Bseisu

Group Chief Executive

Chief Strategy Officer, Solidarity Group Holding BSC (C)

  • Date of joining: 20th June 2010
  • Masters’ in Business Administration from the Indian School of Business and a qualified Chartered Alternative Investment Analyst
  • 15 years of experience in investments and asset management with particular emphasis on asset allocation and portfolio management

Current Positions:

  • Board Member of Solid Ventures W.L.L, Bahrain
  • Board Member of Solid Capital W.L.L, Bahrain
  • Board Member of Health 360, Bahrain
  • Formerly, Board Member of Solidarity Takafol Sarl, Luxembourg
  • Responsible for managing, group and subsidiarity level asset allocation, financial risk and investment income bottom-line in the context of both proprietary capital and takaful portfolios
  • Actively involved in special projects on group inorganic expansion via acquisition and merger within the Takaful industry

Abhijit Singh

Chief Strategy Officer

Chief Financial Officer, Solidarity Group Holding B.S.C (c)

  • Date of joining – 26 March 2023
  • Certified Public Accountant (CPA) from New Hampshire Board of Accountancy, USA
  • Chartered Global Management Accountant (CGMA) from the Chartered Institute of Management Accountants (CIMA), USA
  • Member in the American Institute of Certified Public Accountants (AICPA)
  • Bachelor of Science in Accounting, Business Administration, University of Bahrain
  • Over 15 years of international experience in audit, accounting advisory and financial control.

Current Positions:

  • Board Member of Solid Ventures W.L.L, Bahrain
  • Board Member of Solid Capital W.L.L, Bahrain
  • Board Member of Solidarity Takaful Sarl, Luxembourg
  • Corporate Governance Officer of Solidarity Group, Bahrain
  • Responsible for financial strategy and governance, ensuring the organization's long-term financial health and compliance and oversees Risk Management and Compliance of the Group.

Mohamed Almajed

Chief Financial Officer

Head of Investments, Solidarity Group Holding BSC (c)

  • Date of joining – 16 January 2011
  • Holds a Bachelor of Commerce degree with double major in Economic and International Business from University of Auckland
  • Investment professional with CFA designation
  • 13 Years of experience in investment management, mergers & acquisitions, and corporate strategy

Current Positions:

  • Currently heading the Investment function of Solidarity Group Holding B.S.C. (c).

Ahmed Al Hulaibi

Head of Investments

Chief Executive Officer, Solidarity Bahrain B.S.C

  • Date of joining – 7th December 2003
  • Masters’ in Computing from the University of Sunderland, UK; and Bachelors in Computer Science from Bangalore University, India. Jawad is an Associate of the Chartered Insurance Institute, UK; and a Certified Anti-Money Laundering & Compliance Specialist. He attended the Gulf Executive Development Program at the Darden School of Business, University of Virginia, USA.
  • 30 years’ of experience in business management and Insurance industry

Current Positions:

  • Board Member in Solid Ventures W.L.L., Bahrain
  • Board Member in Solid Capital W.L.L, Bahrain
  • Chairman of the Bahrain Insurance Association (BIA), Bahrain

Jawad Mohammed

Chief Executive Officer
Solidarity Bahrain B.S.C

Chief Executive Officer, Solidarity First Insurance Company Plc., Jordan

  • Date of joining: 1st March 2018.
  • Master’s in international finance and Investment from University of Derby, UK.
  • 22 years of experience in the Insurance industry.
  • Board Member- Jordan Insurance Federation

Current Positions:

  • Vice Chairman - Jordan Insurance Federation

Previous Positions:

  • Formerly General Manager at Jordan Emirates Insurance Company, Jordan
  • Formerly General Manager at Med gulf, Jordan

Ala Abdel Jawad

Chief Executive Officer
Solidarity First Insurance - Jordan

MESSAGE TO SHAREHOLDERS

We would like to inform our esteemed shareholders that Solidarity Group Holding BSC(c) (“the Company”) declared dividends as given below:
  1. For the year ended 31.12.2016 – 3.75%
  2. For the year ended 31.12.2017 – 2.2827%
  3. For the year ended 31.12.2018 – 2.5%
  4. For the year ended 31.12.2020 – 2.75%
  5. For the year ended 31.12.2021 – 2.75%
  6. For the year ended 31.12.2022 – 2.75%
  7. For the year ended 31.12.2023 – 3%
Also, the Company reduced the paid up capital by 10% through cash payback of paid up capital during the Year 2015. We note that some of the shareholders have not yet claimed the dividends declared and 10% capital payback. We request such shareholders to claim the amount payable to them by contacting the Company by email or phone as given below:
Email ID: shareholders@solidarity.com.bh
Phone numbers: +973 17567406 or +973 39714242

Sr.

Top 5 shareholders

% shareholding

1

Amana WLL, Bahrain 55.91%

2

Social Insurance Organization, Bahrain 14.68%

3

Qatar Islamic Bank, Qatar 5.00%

4

MAA International Investments Ltd, Malaysia 3.67%

5

General Retirement and Pension Authority, Qatar 2.22%

FINANCIAL HIGHLIGHTS

CONTACT US

Solidarity Group Holding BSC C
CR. 50973 – 1
Flat 61, Building 2080, Road 2825, Block 428
Seef Tower, 6th Floor, Seef District
P.O. Box 18668, Manama
Phone +973 17 585 222
Fax +973 17 585 200
shareholders@solidarity.com.bh