Strategic Alliance in the UAE

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.

 

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