Eversheds Sutherland has provided legal advice to Damaan Islamic Insurance Company (“Beema”) on the direct listing of 100% of its shares on the Main Market of the Qatar Stock Exchange. Beema’s share have been admitted for trade as of 16 January 2023. Beema is the first company to be listed through direct listing on the Qatar […]
Insurance
News
United Arab Emirates
Orient Insurance fails to reclaim $340m for Address Downtown fire
Orient Insurance, part of UAE’s Al-Futtaim Group, has lost a claim case to recover the amount it paid to Emaar Properties for losses resulting from the fire that broke out at the Address Downtown hotel. Following the blaze that broke out at the Address Downtown Hotel on New Year’s Eve in 2015, Orient Insurance has […]
Deal & transactions
Insurance
United Arab Emirates
Dar Al Takaful and Watania merge to create UAE’s largest
Shari’ah-Compliant insurance companies Dar Al Takaful (“DAT”) and National Takaful Company (“Watania”) have completed their merger effective on 01 July 2022 pursuant to the merger plan announced on 3 March 2022. As part of the merger completion process, trading in Watania shares on Abu Dhabi Securities Exchange (ADX) has ceased as of the closing of […]
Deal & transactions
Insurance
United Arab Emirates
Daman and Emirates NBD launch new ‘Early Payment Scheme’
Emirates NBD, a banking group in the Middle East, North Africa and Turkey (MENAT) region and the National Health Insurance Company – Daman, have launched a new financing initiative providing an ‘Early Payment Scheme’ to Daman’s extensive UAE medical network. The initiative is of significant benefit to the UAE’s overall healthcare sector as the scheme […]
