Saxo survey reveals divided sentiments across geographies
markets4 hours ago
The UAE's insurance sector is poised for major growth regionally. It will also be supported by the memorandum of understanding, or MoU, signed between the UAE and India to promote cooperation in insurance regulations, said Sanjay Vig, managing director of Alpen Capital.
Alpen Capital is a regional boutique investment banking advisory firm which provides advisory solutions in the areas of M&As, debt, equity and capital markets.
Last week, a high-level UAE delegation led by His Highness Shaikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, signed an MoU between the UAE's Insurance Authority and the Insurance Regulatory and Development Authority of India.
"This MoU will pave the way for more private and public partnerships in the insurance sector both locally and between the two countries," said Vig on Monday. He was releasing a 'GCC Healthcare Industry' report.
The report said that private sector involvement is becoming imperative to meet the rising demand for healthcare and to reduce the burden of costs on government finances. Government policies to increase insurance coverage and provide other infrastructure support as well as financial incentives are drawing investors.
The Dubai government has proposed a new private-public-partnership, or PPP law, to encourage private sector funding by offering a degree of protection by structuring the tendering process and partnership contract specifications, among others.
As a part of its new healthcare strategy, Dubai Healthcare Authority, or DHA, aims to increase PPP in areas of ambulatory care, LTC, home care and day-surgery centres. Such laws and strategies are likely to increase the private sector involvement in the UAE's healthcare sector.
Vig said: "The company is very bullish about the region as it closed two deals within two months of 2016. Bank Nizwa signed an agreement to provide a structured financing facility of $50 million to Hydrocarbon Finder E&P. Also, UAE and Oman banks along with Asian Development Bank funded a $69 million facility through a syndicate loan for LOLC Finance, a non-bank financial institutions in Sri Lanka."
- sandhya@khaleejtimes.com
Saxo survey reveals divided sentiments across geographies
markets4 hours ago
Rescue teams fought blizzards and difficult terrain through the night to reach the wreckage
mena4 hours ago
Gold and silver rally as soft US data fuels market optimism
personal finance5 hours ago
Medics report an increase in children visiting doctors with complaints of tiredness, fever, sore throat
health5 hours ago
Currently, majority of insurance companies in the country include this coverage in their policies
uae5 hours ago
But he reassured fans that he was up for the challenge of next weekend's FA Cup final against Manchester United
football10 hours ago
The win was Verstappen's fifth in seven races this season, the 59th of his career and the third edition in a row at Imola
f110 hours ago
Arsenal chased Manchester City all the way to the finishing line but for the second straight season had to make do with the runners-up spot
football10 hours ago