Insurance House Set for Rapid Launch - Finance House
Insurance House Set for Rapid Launch
15th May 2011

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.

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