Abu Dhabi, May 15, 2011 – Following the completion of the 1st successful post-crisis IPO in the UAE, Insurance House PSC (IH), an Abu Dhabi based insurance company, announced today a series of important milestones. Insurance House has just obtained all regulatory approvals, being the Ministerial Decree, license from the Department of Economic Development and Insurance Authority, allowing it to move expeditiously towards the finalization of the establishment and commencement of operations. Mohammed Othman, General Manager of Insurance House, said, “With the weighty hard-work of its management team, IH managed to acquire licenses at a record period of time.
Insurance House has registered remarkable progress since its initiation and we are fully prepared to commence our operations ahead of scheduled time”. “Insurance House’s infrastructure is in place, and we are now on course for finalizing the internal operating procedures, policies, and product manuals. Human resources have been carefully selected, and regulatory licensing requirements are finalized. IH will be set to commence its operations within few days”, added Othman. “By means of our state-of-the-art insurance services, highly experienced resources, and the support of Finance House being a principle founder, we remain committed to keeping this rapid movement in the way we service our clients”, continued added. Insurance House will offer insurance services ranging from personal insurance to commercial insurance and special insurance, in addition to the highest quality customized insurance programs responding to client’s insurance needs. “We are extremely proud of this outstanding dynamism, and confident that our clientele will receive the best in class standard and customized insurance services based on their various insurance needs”, concluded Othman.
Following the recent completion of its Initial Public Offering (IPO) on 9 March, and the allotment of shares on 23 March, IH has officially been launched at its Establishment General Meeting (EGM) held on 3 April, Insurance House is endeavoring for another major step which is the listing on Abu Dhabi Securities Exchange within the next few coming weeks.
Insurance House will be operating its business from its head-office in Abu Dhabi, in addition to branches spread in Dubai and Sharjah, allowing it to serve the widest range of clients across the United Arab Emirates.