The transaction follows the acquisition of RSA by
"Alongside the wider RSA UK&I Board, I believe this sale will support the RSA Middle East team's ambition to grow and expand in the region to become a leading multi-line insurance company. Intact and RSA will now focus their efforts on supporting
The transaction is expected to complete by the end of Q3 2022.
- RSA Middle East B.S.C. (c) is a leading provider of property and casualty insurance in the
Middle East . It offers solutions for both commercial and retail clients, across a range of product lines, including motor, property, medical, SME as well as tailored solutions for large corporates. It has operated in the region for 70 years, bringing best-in-class international solutions and expertise to theMiddle East . - RSA Middle East is a joint venture of RSA Insurance Group Ltd, with majority shareholding, and regional shareholders in the
Middle East . It has operations inBahrain ,UAE ,Oman and theKingdom of Saudi Arabia . It operates as local publicly listed companies inOman , under Al Ahlia Insurance Company, and inSaudi Arabia , under Al Alamiya For Cooperative Insurance Company. National Life & General Insurance Co. SAOG (NLGIC) is a subsidiary of Oman International Development and Investment Company SAOG (OMINVEST). Listed on theMuscat Stock Exchange , NLG is the market leader and the largest insurance company inOman with branches inDubai ,Abu Dhabi andKuwait . NLGIC has been in the insurance industry for more than 25 years, offering a wide range of insurance solutions in Medical,Life and General Insurance segments with a successful track record of business performance across various financial parameters. The company is the market leader inOman in theMotor and Health Insurance segments and one of the major players in theUAE and growing fast in its new markets includingKuwait .
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