SHUAA Capital, an asset management and investment banking platform in the Gulf region, has announced that its insurance assets under management have grown to $136 million.
Over the past three years, SHUAA has managed the equity and debt (fixed income) portfolios of five major insurance companies through its managed funds and discretionary portfolios.
The company said SHUAA’s managed funds provide insurance investors with the opportunity and comfort to invest in a regulated fund structure that is diversified, achieves cost efficiencies and economies of scale, and creates consistent, long-term value.
Ajit Joshi, MD and Head of Public and Private Markets at SHUAA Capital, said, “Insurance, both conventional and Takaful, is a strong recurring income segment of SHUAA’s asset management business despite low margins, and as such we are focused on strategically growing our insurance assets under management.”