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- Smaller manufacturers across China look to catch the automation wave
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04/03/2015 06:37 AST
Green Crescent, the Abu Dhabi-based insurer partly owned by Axa of France, returned to profitability last year after reducing costs as well as its exposure to the stock market.
The firm posted a profit of Dh40,000 last year versus a loss of Dh4.65 million in 2013.
"2014 was a year of significant importance to GCIC as the company entered a strategic alliance with Axa Group and Kanoo Group with the aim of continuously improving its health operations and furthermore developing its life business," the firm said. "During 2014 the company . obtained an extraordinary financial performance."
Green Crescent's operating costs last year dropped to Dh28.3m from Dh39.3m in 2013. The company also realised a Dh11.9m capital gain last year after it reduced its exposure to the stock market.
The firm said that, while regulations making health insurance mandatory had provided new opportunities, it had also caused a rise in medical claims. As a result, it will maintain a selective approach to underwriting medical insurance and will branch out into the life insurance market this year.
The National
18/09/2014
Green Crescent Insurance's tie- up with Axa Insurance and Kanoo Group is set to provide a boost to the Abu Dhabi company amid fierce competition in the sector.
Green Crescent said yesterda
The National
17/04/2014
Green Crescent Insurance Company (PJSC), the leading group health and life insurance Company in the UAE, has received no objection letters from both the Securities & Commodities Authority and the Ins
Press Release
01/08/2013
Green Crescent Insurance Company (PJSC), the leading group health and life insurance Company in the UAE, has released its financial results for the second quarter of the year 2013 which clearly refle
Press Release
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15/12/2025
Commercial Bank has launched Qatar's first Metaverse-enabled 'Auto Marketplace' on the CBQ Mobile App.
Through this innovation, customers can now explore a fully interactive, virtual showroo
Gulf Times
15/12/2025
Bank Nizwa, a leading Islamic bank in the Sultanate of Oman, has announced the appointment of Tariq bin Atiq as its new Deputy Chief Executive Officer and Chief Operations Officer, in line with its o
Trade Arabia
15/12/2025
Bank ABC, a leading player in the region's banking industry, said it has once again been named 'Transaction Bank of the Year - Middle East in 2025' by The Banker (Financial Times), marking the third
Trade Arabia
15/12/2025
Dar Al Majd Real Estate Company (Al Majdiah) has announced that it has signed an agreement with the Jadwa Al Manzel Real Estate Fund for the development of three residential projects worth SAR265 mil
Trade Arabia
15/12/2025
Saudi-based Taiba Investments Company has announced that one of its key subsidiaries, Smart Hotel Zone Company, had signed a construction contract with Al Saad Contracting Company for a key hotel pro
Trade Arabia
Financial Information Co.
Saudi Arabia