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

Middle East considers BP rescue

Potential strategic investment offers BP a life line; response is awaited.

0

July 4, 2010 1:55 by



Financial institutions in the Middle East are considering an investment in beleaguered oil giant BP, reports the National.

The paper cites “informed sources,” who say that proposals for strategic investment from the region have already been communicators to BP advisers in London, and a response is awaited.

“BP knows there is potential support from the Middle East,” one informed source told the paper. Middle East investors would also consider buying key assets from BP, he said.

The paper says they might also give financial backing to any capital raising the oil company might be planning to reinforce its balance sheet. The company has been badly damaged by the cost of cleaning up the catastrophic oil spill in the Gulf of Mexico. Estimates put the clean-up cost as high as US$60 billion (AED 220.37bn).

The National notes that the Financial Times has reported BP’s fears that the company’s low share price makes it vulnerable to a takeover; a strategic investor would be one possible escape route.

BP has a history in the Gulf, having begun life as the Anglo-Persion Oil Company.



0

Tags: , , , , , , ,

Leave a Comment