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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
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Do you trust your insurance provider?
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Latest News

UAE’S NBAD Partly Repays Post-Dubai World Government Support


National Bank of Abu Dhabi , the largest lender by market value in the United Arab Emirates, has repaid 1 billion dirhams ($272.3 million) of subordinated notes to the country's Ministry of Finance, it said on Thursday.


August 19, 2012 8:08 by

The sum was part of 5.6 billion dirhams provided by the government in January 2010 as part of a wider move to support the UAE banking system in the aftermath of Dubai World’s 2009 $25 billion debt restructuring standstill request.


Under the plan, the UAE authorities provided additional Tier 2 capital, in the form of subordinated notes, to every bank in the country to strengthen their capital bases and head off any solvency concerns after the Dubai World news.


The 5.6 billion dirhams of subordinated debt consisted of a seven-year bond paying a coupon of 4.5 percent. After the notes were absorbed into the bank’s capital structure, it took its capital adequacy ratio to 23.5 percent. ($1 = 3.6730 UAE dirhams) (Reporting by David French; Editing by Amran Abocar)


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