Insurance House gets listed on ADX
Abu Dhabi, June 20, 2011
Insurance House, a leading Abu Dhabi-based insurance firm, has been listed on the Abu Dhabi Securities Exchange (ADX) and has launched its operations through ADX under the ticker symbol “IH”.
Rashed Al Baloushi, deputy CEO, and director of operations at ADX, said: “We hereby congratulate Insurance House for its successful listing on ADX, and we look forward to work with the company to witness its advancement and growth.”
At the first day of trading in Insurance House Shares, Al Baloushi said: “Insurance House has obtained all regulatory and legal approvals related to listing and trading in its shares, in accordance with the rules and regulations adopted by ADX.”
“Listing of Insurance House is very important for the market and the company, whereby it further strengthens its position in the market locally, regionally and globally, and will secure future growth, not to mention also that this process will open the doors to foreign investors and local citizens who are looking for more opportunities to diversify their portfolios,” he continued.
"As part of the program of best practices that we adopt and apply through the operational mechanisms at Abu Dhabi Securities Exchange, and in line with the strategy and aspirations of ‘Abu Dhabi Vision 2030’, we encourage more companies to list their shares in the market,” he added.
Mohammed Abdulla Alqubaisi, chairman of Insurance House, said: “We have been looking forward for this occasion and are very delighted that investors will be given the chance to trade IH shares which have been listed on ADX as of today.”
“With the support of Finance House being the major shareholder, we have kept our pledge to investors and officially launched the operations at a record period of time, allowing us to minimize setup and establishment costs,” he added.
To add to its existing staff and in line with ‘Abu Dhabi Vision 2030’, Insurance House will be launching a programme to attract and retain the best UAE nationals in the insurance sector.
Insurance House offers a host of comprehensive insurance products and services to institutions as well as individuals from its head-office in Abu Dhabi, in addition to branches spread in Dubai and Sharjah. – TradeArabia News Service