Recapitalization of Arabian Seas Insurance Company

Arabian Seas Insurance Company (ASIC) has accepted a partnership offer made by Global Investment House (GIH) providing, among other decisions, for the increase of its capital from 2 million JOD (2.8 million USD) to 4 million JOD (5.6 million USD). GIH equally plans to invest about 100 million JOD (141 million USD) for the creation of several firms including insurance companies.