Hansard Global plc Strategic Alliance in the UAE (5461U)
January 19 2017 - 1:00AM
UK Regulatory
TIDMHSD
RNS Number : 5461U
Hansard Global plc
19 January 2017
Hansard Global plc
Strategic Alliance in the UAE
Hansard Global plc ("Hansard" or the "Group"), the specialist
long-term savings provider, announces that its insurance
subsidiary, Hansard International Limited ("HIL"), has entered into
a strategic alliance with Union Insurance Company PSC ("Union
Insurance"), a major local insurer in the United Arab Emirates
("UAE").
Union Insurance has appointed HIL as reinsurer and administrator
of its new savings and investment proposition, 'Infinity', which
will be launched in February 2017.
This alliance forms part of Hansard's strategic objective to
attain additional licensed access to key target markets.
Contact details
For further information, please contact:
Hansard Global plc 01624 688 000
Gordon Marr, Chief Executive
Tim Davies, Company Secretary
Bell Pottinger 020 3772 2500
Dan de Belder / Duncan Mayall
Notes to Editors:
-- Hansard Global plc is the holding company of the Hansard Group
of companies. The Company was listed on the London Stock Exchange
in December 2006. The Group is a specialist long-term savings
provider, based in the Isle of Man.
-- The Group offers a range of flexible and tax-efficient investment
products within a life assurance policy wrapper, designed to appeal
to affluent, international investors.
-- The Group utilises a controlled cost distribution model by selling
policies exclusively through a network of independent financial
advisors, and the retail operations of certain financial institutions
who provide access to their clients in more than 170 countries.
The Group's distribution model is supported by Hansard OnLine,
a multi-language internet platform, and is scaleable.
-- The principal geographic markets in which the Group currently
services contract holders and financial advisors are the Middle
East, the Far East and Latin America, in the case of Hansard International
Limited, and Western Europe in the case of Hansard Europe Designated
Activity Company, the Group's two life assurance companies. Hansard
Europe Designated Activity Company ceased accepting new business
with effect from 30 June 2013.
-- The Group's objective is to grow by attracting new business and
positioning itself to adapt rapidly to market trends and conditions.
The scaleability and flexibility of the Group's operations allow
it to enter or develop new geographic markets and exploit growth
opportunities within existing markets without the need for significant
further investment.
-- Union Insurance is licensed by the UAE Insurance Authority and
listed on the Abu Dhabi Securities Exchange. It has its corporate
offices in Ajman and Dubai. Established in 1998 with paid-up capital
of over AED 330 million, Union Insurance provides a comprehensive
range of retail and commercial insurance products to clients in
the UAE and the Middle East region.
Forward-looking statements:
This announcement may contain certain forward-looking statements
with respect to certain of Hansard Global plc's plans and its
current goals and expectations relating to future financial
condition, performance and results. By their nature forward-looking
statements involve risk and uncertainties because they relate to
future events and circumstances which are beyond Hansard Global
plc's control. As a result, Hansard Global plc's actual future
condition, performance and results may differ materially from the
plans, goals and expectations set out in Hansard Global plc's
forward-looking statements. Hansard Global plc does not undertake
to update forward-looking statements contained in this announcement
or any other forward-looking statement it may make. No statement in
this announcement is intended to be a profit forecast or be relied
upon as a guide for future performance.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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