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-Led Group Agrees Takeover Of Dubai's Damas

Qatar-Led Group Agrees Takeover Of Dubai's Damas

Qatari conglomerate Mannai Corp and Egyptian investment bank EFG Hermes have agreed a $0.45 per share recommended cash bid for Dubai jeweler Damas


March 28, 2012 4:49 by

The offer is at a 9.8-percent premium to Damas’s closing price on Tuesday of $0.41. The stock, which has surged 86 percent this year on talk of a potential takeover , was unchanged at 0646 GMT.
Mannai, whose operations span the oil and gas, automotive, travel and logistics sectors, is set to become the majority owner of Damas and delist the company from the Nasdaq Dubai bourse if the deal goes through.
Mannai aims to hold a 66-percent stake in Damas and EFG Hermes 19 percent, with the remaining 15 percent retained by the jeweler’s current majority shareholders Tawfique Abdullah, Tawhid Abdullah and Tamjid Abdullah.
Damas’s board has unanimously recommended the bid, the statement said, and is subject to formal acceptance by the company’s shareholders.
The Abdullah brothers have been sidelined from the jeweler they helped found and which has been forced to restructure $872 million in debt.
For Mannai, the deal would be its second buy in the United Arab Emirates after it snapped up a 35-percent stake in Axiom Telecom in 2011.
(Reporting by Matt Smith, Editing by Sitaraman Shankar)


Leave a Comment