UAE - Insurance House issues perpetual bonds
Saturday, 04 27 2019, Category: Insurance and Reinsurance, Country: U.A.E
Abu Dhabi: Insurance House PSC (“IH”) announced the successful issuance of perpetual bonds for an amount of AED 15 Million. The transaction was subscribed by a wide range of investors from private and public institutions, as well as high net worth individuals.
IH is the first Insurance Company to issue Perpetual Bonds in the United Arab Emirates. This is a great achievement for Insurance House, as it managed to complete this milestone within a few years since its inception in 2011. The Perpetual Bonds were issued to support IH’s growth plans by boosting its solvency ratios further as the company moves on to its next phase of growth.
Mohammed Abdulla Alqubaisi, Chairman of Insurance House, commented: “We are pleased to announce the successful issuance of IH’s Perpetual Bonds. The issue was received positively by the market and has further strengthened the company’s position. As a result we are now well-positioned to accelerate our future growth.”