A specialised Emirates Takaful Insurance Company has been set up at cost AED150 million, following the strategic partnership between Al Buhairah National Insurance Company with the Austrian Unika group.
Abdullah Jumaa Al Seri, a founding member of the new company, said at the press conference held at Al Buhairah Company Monday that Al Buhairah insurance company conducted a detailed field study for three years on establishing "solidarity insurance on life and all types of insurance".
He added that the study resolved existence of a strategic partner with advanced insurance programmes, indicating that "based on these findings an agreement was struck with the Austrian Unika group to set up the Takaful insurance company with capital of AED150 million in Dubai emirate. It will provide life insurance and medical treatment to meet the needs of UAE nationals and expatriates alike".
Al Seri added that the aim for striking agreement with the Austrian group is to provide health insurance coverage abroad through medical network to enable insured patients get direct treatment.
Nader Al Qadoumi, manager general of Al Buhairah insurance company, said that his company has 20 per cent of the new company's shares, Unika group with 15 per cent, while 10 per cent has been allocated to other experienced companies in investment sector, adding that 55 per cent of the shares will be subscribed to the UAE and GCC nationals with effect from March 23, in National Bank of Abu Dhabi. (WAM)
Abdullah Jumaa Al Seri, a founding member of the new company, said at the press conference held at Al Buhairah Company Monday that Al Buhairah insurance company conducted a detailed field study for three years on establishing "solidarity insurance on life and all types of insurance".
He added that the study resolved existence of a strategic partner with advanced insurance programmes, indicating that "based on these findings an agreement was struck with the Austrian Unika group to set up the Takaful insurance company with capital of AED150 million in Dubai emirate. It will provide life insurance and medical treatment to meet the needs of UAE nationals and expatriates alike".
Al Seri added that the aim for striking agreement with the Austrian group is to provide health insurance coverage abroad through medical network to enable insured patients get direct treatment.
Nader Al Qadoumi, manager general of Al Buhairah insurance company, said that his company has 20 per cent of the new company's shares, Unika group with 15 per cent, while 10 per cent has been allocated to other experienced companies in investment sector, adding that 55 per cent of the shares will be subscribed to the UAE and GCC nationals with effect from March 23, in National Bank of Abu Dhabi. (WAM)
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