Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

UAE- Green Crescent Insurance launches privately operated health insurance firm  Join our daily free Newsletter

MENAFN - Khaleej Times - 19/11/2008

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Khaleej Times) Green Crescent Insurance Company has announced the launch of its privately operated health insurance company in response to the increased attention by governments in the region to provide private health coverage.

Green Crescent recently signed an agreement with HTH Worldwide, a global health and safety Services Company which will give Green Crescent members access to HTH's contracted doctors and hospitals in 180 countries.

"In a market with a potential of 2 billion premiums per annum, the new company plans to capture a market share of 15-17 per cent, in next five years, to raise revenues of Dh1.5 billion," said Carl J. Sardegna, CEO Green Crescent Insurance Company.

The insurance firm anticipates to be listed on Abu Dhabi Securities Exchange (ADX) having raised Dh250 million for an initial public offering (IPO) in July this year.

For the first year of operations, Green Crescent plans to target 35000 members for its insurance plan to raise revenues in excess of 100 million.

With the opportunities in the health insurance increasing in the Middle East and North Africa region, the CEO said that his company would branch out in the countries of Egypt, Libya and Saudi Arab.

Sardegna said the company's goal is to provide employers with the ability to customise plans to meet their needs.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help