(MENAFN) Green Crescent Insurance Company's Chief Executive Officer, Carl J. Sardegna, said that the company has launched its privately operated insurance company in Abu Dhabi, as a response to the need of private health insurance in the region, Khaleej Times reported.
Sardegna added that the company has contracted with HTH Worldwide, an international health services firm. HTH has a list of doctors and hospitals in about 180 countries, which are going to be accessible to the Green Crescent customers.
The company plans to increase its revenues to 408.4 million in the next five years by gaining 15 to 17 percent of market share. Earlier this year, the company raised 68.1 million for an initial public offering, which made Sardegna predict that the company will be listed on Abu Dhabi Securities Exchange.
Green Crescent will target 35000 customers in its first year of operation. This will increase its revenues by more than 100 million, he added. The company also plans to expand in Egypt, Libya and Saudi Arab, for the growing demand on health insurance in the region.