The Managing Director (MD) of largest local insurance company Allied Insurance Ahmed Ameel, gave his notice of resignation to the board of the State Trading Organization (STO).
Ameel had filled the role of MD at the company for the past five years.
In an interview given to local media Mihaaru, Ameel revealed he had submitted his resignation along with a three-month notice. The reason for his resignation, he added, was his wish to dedicate more time for his family.
Ameel's departure from the company will be effective following a new appointment to the position within the duration of his three-month notice of resignation.
As a subsidiary company of State Trading Organization, the board of STO has the power to appoint an MD at the company.
Ameel, who holds a masters in the field of Insurance, has been at the company for the past 24 years. When Ameel joined the company, Allied had only 5 employees. The company is now over 200 employees strong.
Over the past five years, Allied increased its sales by 112 percent. Further, Allied's insurance capacity increased to no less than USD 120 million.