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DUBAI INSURANCE COMPANY (P.S.C.)

(DIN)
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Dubai Insurance says it has not signed agreement with Israel's Harel

09/24/2020 | 11:38am EDT

DUBAI, Sept 24 (Reuters) - Dubai Insurance Co said on Thursday it had not signed an official agreement with Israel's Harel, a day after the Israeli insurance group said a deal had been reached.

The companies met but "the parties have yet to sign (an) official cooperation agreement," Dubai Insurance Chief Executive Abdellatif Abuqurah said in a statement.

Harel on Wednesday said the two insurance companies had signed a deal to provide insurance services in both Israel and the United Arab Emirates.

It said the agreement would enable its customers to receive insurance services - business, health and for sea and air trade - in the UAE while UAE citizens would be able to receive the same services in Israel.

The UAE and Israel have agreed to establish diplomatic and trade ties, which has led to a number of business deals being announced. (Writing by Alexander Cornwell; editing by David Evans and Hugh Lawson)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
DUBAI INSURANCE COMPANY (P.S.C.) 0.00% 7.5 End-of-day quote.78.57%
EURO / DIRHAM (EUR/AED) -0.02% 4.3222 Delayed Quote.-3.44%
HAREL INSURANCE INVESTMENTS & FINANCIAL SERVICES LTD 0.39% 3113 Delayed Quote.5.17%
US DOLLAR / DIRHAM (USD/AED) -0.01% 3.6726 Delayed Quote.0.00%
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Financials
Sales 2020 214 M 58,3 M 58,3 M
Net income 2020 55,0 M 15,0 M 15,0 M
Net cash 2020 95,4 M 26,0 M 26,0 M
P/E ratio 2020 8,30x
Yield 2020 8,33%
Capitalization 750 M 204 M 204 M
EV / Sales 2019 1,32x
EV / Sales 2020 1,52x
Nbr of Employees -
Free-Float 31,9%
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Income Statement Evolution
Managers and Directors
Abdellatif Abuqurah Chief Executive Officer
Ramanathan Narayanasamy Chief Financial Officer
Buti Obaid Buti Al-Mulla Chairman
Mohamed Tahsin Al-Ali Chief Operating Officer
Sahem Abdel Haq Head-Legal & Compliance
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