Dubai: Green Crescent Insurance Co said on Wednesday France’s Axa will invest Dh100 million through a convertible bond instrument, pushing the GCIC’s capital to Dh200 million.
The bonds are expected to convert within 12 months to 100 million shares, and the investment will help GCIC to expand its life insurance business.
“We are confident that this alliance will offer Green Crescent the opportunity to expand its market share, grow its margins and provide significant value generation for our shareholders,” said Nathan Kennedy, Managing Director of GCIC.
