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FINANCIAL NEWS
Union Insurance revenues up with Sharia-compliant products
03 Jan 2011
(MENAFN) Dharmairi Edirisinghe, the finance manager at Union Insurance, said that revenues are expected to hike by thirty two percent in 2011 due to the issuance of Sharia-compliant products, reported The National.
Edirisinghe said that converting the company into an Islamic insurance one is expected to attract more business in the insurance market. The company new program would be called takaful and would be accompanied with a strong marketing campaign.
Edirisinghe announced that revenue for 2011 is expected to witness a hike of 32 due to the expansion on the takaful program. According to Abu Dhabi Exchange, Union Insurance raised administration costs by seven percent for this year.
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