Report of the independent auditor on the summary financial information to the directors of Al Ittihad Al Watani in respect of its UAE Branches

Our opinion

In our opinion, the accompanying summary financial information derived from the audited financial statements of Al Ittihad Al Watani (General Insurance Company for the Near East S.A.L.) – UAE Branches (“the Branch”) for the year ended 31 December 2022 is consistent, in all material respects, with those audited financial statements.

The summary financial information

The Branch’s summary financial information derived from the audited financial statements of the Branch for the year ended 31 December 2022 comprises:

• the summary statement of financial position as at 31 December 2022; and
• the summary statement of comprehensive income for the year then ended.

The summary financial information does not contain all the disclosures required by International Financial Reporting Standards framework applied in the preparation of the audited financial statements of the Branch. Reading the summary financial information, and the auditor’s report thereon, therefore, is not a substitute for reading the audited financial statements and the auditor’s report thereon. The audited financial statements, and the summary financial information, do not reflect the effects of events that occurred subsequent to the date of our report on the audited financial statements.

The audited financial statements and our audit report thereon

We expressed an unmodified audit opinion on the audited financial statements in our report dated 26 April 2023.

Responsibilities of management for the summary financial information

Management is responsible for the preparation of the summary financial information in accordance with the requirements of the Central Bank of the United Arab Emirates.

Auditor’s responsibility

Our responsibility is to express an opinion on whether the summary financial information is consistent, in all material respects, with the audited financial statements based on our procedures, which were conducted in accordance with International Standard on Auditing 810 (Revised), ‘Engagements to Report on Summary Financial Statements’.

Restriction on distribution and use

The summary financial information has been prepared for the sole use of the management of the Branch to assist them in complying with their reporting obligation as per the Central Bank of the United Arab Emirates requirements and should not be distributed to any other parties as it may not be suitable for another purpose.

PricewaterhouseCoopers

2 May 2023

Rami Sarhan

Registered Auditor Number 1152

Abu Dhabi, United Arab Emirates