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DIC mulls foray into Yemen
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DOHI
27.6
-0.20
-0.72%
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11/Nov/2008
Gulf Times
Doha Insurance Company (DIC) is planning to enter Yemeni market through strategic partners. “The board of directors of DIC has decided to engage in serious discussions with strategic partners in Yemen on the establishment of an insurance company to be based in Sanaa,” said a spokesman in a statement to the Doha Securities Market.
With such establishment, he said, DIC will have priority in securing professional management for the project. However, the statement was silent on many aspects including the stake of DIC in the new venture; the partners involved and the capital base. The move comes as part of greater consolidation being expected in the insurance industry in the region.
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Profile: Doha Insurance Co. (DOHI ) |
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