Muscat: Al Ahlia Insurance Co. won top honours at the recently held Corporate Governance Excellence Awards 2013, organised by the Oman Centre for Corporate Governance (OCCG) of the Capital Market Authority (CMA).
The firm won two awards — the Overall Performance Award across all sectors and categories, and also the first position in the Services and Insurance category.
Al Ahlia's performance was rated on the basis of corporate governance standards, including performance of the board, the transparency and disclosure levels, controls and risk management, sustainability through corporate social responsibility and application of technology in various aspects of business.
The awards were given after assessing the submissions, followed by a round of interviews with a panel of governance specialists.
Anwar Ali Sultan, chairman of Al Ahlia Insurance Co., received the awards from Yahya bin Said Al Jabri, chairman of the Capital Market Authority and Chairman of the Special Economic Zone Authority of Duqm and Abdullah bin Salem Al Salimi, executive president of the CMA.
Anwar Ali Sultan said, "At Al Ahlia, we rigorously maintain the highest levels of control and integrity. Al Ahlia has always believed in strong corporate governance principles that are key to building the trust of all stakeholders and enabling the company to perform its duty to protect individuals and businesses against a wide range of risks. We are honoured to have received the overall performance award."