Doha Bank insurance firm to get captial of $27mn

Doha Bank said on Monday a new insurance subsidiary it is setting up, called Doha Bank Assurance Company, would have 100 million Qatari 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)