Business | General

Green Crescent sets first-year target of Dh100m in premiums

Abu Dhabi-based Green Crescent Insurance Company (GCIC) is targeting Dh1.5 billion in health insurance premiums from UAE customers over the next six years.

  • By Himendra Mohan Kumar, Staff Reporter
  • Published: 23:40 November 18, 2008
  • Gulf News

Abu Dhabi: Abu Dhabi-based Green Crescent Insurance Company (GCIC) is targeting Dh1.5 billion in health insurance premiums from UAE customers over the next six years.

GCIC chief executive officer Carl J. Sardegna told a news conference in the capital yesterday that GCIC, which yesterday formally launched its privately-operated health insurance company, is looking to insure some "35,000 members in the UAE during the first year of its operations and generate over Dh100 million in premiums".

"Our goal is to be the leading quality provider of health insurance in the region. To that end we will provide employers with the ability to customise plans to meet their needs," said Sardegna, adding that members would be able to access quality networks of providers locally and on a global basis.

"Over the next five years, we are looking at a market share of 15 per cent to 17 per cent of the health insurance market in the UAE," he said.

"Over time, we want to expand our operations in the Middle East North Africa (MENA) region," said Sardegna.

He said GCIC has access to 180 countries through its partners.

GCIC is a public joint shareholding company established earlier this year with a paid up capital of Dh250 million.

  • Rate this article
  • Average reader rating (7 votes) 0 Stars
Tools

Emailing an article to friend is a simple way to share a news item. Your friend will receive an email with your name and email address as well any personal message you choose to send.

The information you provide on this page will not be used to send unsolicited emails.

This service is not intended to encourage spam, and action may be taken against individuals who maliciously enter personal details of another individual.

Share this article

More from Business General

  1. Government to ensure success: Shaikh Ahmad

  2. National Express to lose another railway franchise

  3. Female entrepreneurs eye investment

  4. Chile's Arabs play key role in boosting trade talks

All articles in General

More from Business

Gulf News
Popular in Business
Airlines in the region
Budget travel

Airlines in the region

Take a pictorial look at some of the budget airlines in GCC

Business Editor's choice