Doha Bank insurance unit to have $27m capital

Published Monday, December 24, 2007

By Agencies

Doha Bank said on Monday a new insurance subsidiary it is setting up, called Doha Bank Assurance Co, would have 100 million riyals ($27.48 million) in paid-up capital.

The lender's chief executive said last week Doha Bank would set up the wholly owned insurer on January 7.

Doha Bank was also in talks with a global investment bank to start an investment banking and asset management joint venture as it strives to diversify its revenue flows, Raghavan Seetharaman told Reuters on December 19. (Reuters)

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