Abu Dhabi-Mubasher: Abu Dhabi National Insurance Co. (ADNIC) said its board on Sunday gave the green light for issuing mandatorily convertible bonds worth AED 390 million.
The board approved transferring AED 350 million from general reserve to retained earnings, in addition registering and licensing a company specialised in life insurance.
In addition, the board approved the draft articles of association which will be discussed by the upcoming general meeting.
