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

Do you trust your insurer ?

Strongly agree
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
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

Qatar developer UDC shareholders OK strategic shareholder

Qatar developer UDC shareholders OK strategic shareholder

Shareholders of Qatar's United Development Company (UDC) approved on Tuesday a government-backed strategic shareholder to take a $440 million stake in the builder of the man-made Pearl island project, the company said in a statement.


February 29, 2012 1:37 by

The state-run Pension and Social Insurance Authority will take a 1.6 billion riyal ($440 million) stake in the company, acquiring 112 million shares, or 33.2 percent of the builder, the statement said.

“It will give strength to the company, not only because we will have more liquidity, but because we will have a big support. We welcomed them from the minute they requested to join us,” UDC’s Chairman Hussain Alfardan told reporters after a shareholders’ meeting.

Last month, the Pension and Social Insurance Authority withdrew an offer to take up 80 million new shares after UDC objected to its demand to join before the developer’s annual general meeting, when bonus shares would be distributed to existing shareholders.

The company will distribute an additional 64.4 million bonus shares, increasing the company’s capital to 2.3 billion riyals, the statement said.

UDC, listed in 2003, has interests in real estate, infrastructure, manufacturing and hospitality. Its flagship project, the Pearl Qatar, is a mixed-used development on an artificial island off the Gulf Arab state’s coast. ($1=3.638 Qatari riyals) (Reporting By Regan Doherty; Editing by Firouz Sedarat) *image from


Tags: , ,

Leave a Comment