United Insurance Company raises its paid-up capital

United Insurance Company raises its paid-up capital to 6 billion Yemeni Rial, equivalent to 11 Million US Dollars.
The General Assembly of the United Insurance Company headed by Mr. Abduljabbar Hayel Saeed, Chairman of the Board of Directors, approved increasing the company's capital to 6 billion Yemeni Rial instead of 4.50 billion Yemeni Rial, in order to support the financial solvency of the company.
Mr. Tarek A Hayel Saeed - General Manager of the company and member of the Board of Directors stated that this important step reflected the shareholders' desire to strengthen the company's financial position and enhance its financial capacity to absorb all insurance risks, as the largest insurance company in Yemen, and in order to ensure the provision of great financial protection for the company's customers.
He added that the company was able to double its paid-up capital during three consecutive years to keep up with the major challenges facing the insurance sector at the local and international levels, and to be at the confidence level granted by its customers, as an embodiment of its slogan "Reliability".
This step coincided with the company's celebration of the fortieth anniversary of its establishment, and for the achievement of its expansion and prevalence strategy, and the continuation of its position at the forefront of insurance companies for more than twenty consecutive years, and the fact that it has the largest paid-up capital in the Yemeni market.

Source: United Insurance Company (Yemen)