close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Oman’s Renaissance Approves $130 Mln Capital Hike

Renaissance Services' board has approved plans to raise new capital to help fund expansion, the Omani oil services company said on Tuesday.

0

December 27, 2011 8:48 by



The new capital, which will be worth up to 50 million rials ($129.87 million), will be raised through a privately-placed quasi-equity instrument open to both new and existing investors, Renaissance said in a statement to the Muscat bourse.

No timing for the issue, which still requires the approval of both regulators and shareholders, was given. Bank Muscat has been appointed as financial adviser for the offering.

The cash will be used for near-term expansion, through its Topaz Marine and Engineering subsidiary, in the Gulf Arab region and the Caspian Sea, as well as to strengthen Renaissance’s balance sheet, it added.

Renaissance said in November that it was looking to raise $380 million in the loan market for Topaz by the end of the year to help refinance existing obligations.

Topaz, which pulled a $500 million London listing in March amid valuation concerns and regional unrest, uncovered fraud worth $2.9 million in August.

Shares of Renaissance Services are down 50.7 percent year-to-date.($1 = 0.3850 Omani rials)     (Reporting by David French; Editing by Amran Abocar)



0

Tags: , , ,

Leave a Comment