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
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.
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