Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  News  >  Companies  >  All News

News : Companies

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors

Solidarity General Takaful, Al Ahlia Insurance merger complete

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/04/2017 | 03:05pm CET

Solidarity Group Holding, the largest Takaful Group in the world, has announced the successful completion of the merger between its two Bahrain based subsidiaries Solidarity General Takaful and Al Ahlia Insurance Company.

The merged entity, which is set to be called "Solidarity Bahrain" by the end of this year, has become the largest takaful operator and one of the top tier insurance companies in Bahrain, said a statement.

Rashed Al Meer, Chairman of Solidarity Group Holding, said: "Today we are very pleased to announce the completion of the merger between our two subsidiaries in Bahrain. This is a milestone achievement for the Group and for Bahrain's financial services sector as a whole".

He added: "The completion of this merger between two of the country's leading and well established insurance companies provides additional assurance and testament on the long-term stability and competitiveness of Bahrain's economy".

He continued: "Solidarity Bahrain will increasingly support the growth of business activity, trade and commerce, supporting the overall economic fundamentals of the national economy. Solidarity Bahrain is unequivocally today a primary national Insurance player providing takaful products and services to thousands of customers, and contributing significantly to the growth of the financial services sector in Bahrain."

For his part, Ashraf Bseisu, Chief Executive of Solidarity Group Holding, said: "We are very delighted to have completed this landmark and pioneering merger, efficiently and smoothly; creating a stronger and more dynamic force in the market. Today Solidarity Bahrain, would draw on decades of rich experience to bring about positive changes for all our stakeholders."

He continued: "We believe that consolidation has become a necessity in order to create larger and stronger financial institutions capable of providing a unique customer experience. Solidarity Bahrain's ability to provide access to a wide range of insurance offerings creates immense appeal to a diverse range of people representing all walks of life. Our newly merged subsidiary will remain committed to our values of further elevating clients' and business partners' overall experience to new heights." - TradeArabia News Service

آ© Copyright 2014 www.tradearabia.com

(c) 2017 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Companies"
02:50p ST : Local Bridge with Myrnie McLaughlin
02:50p WAL MART STORES : CAC Plumbing celebrates 10 years by feeding its 1,000-plus customers
02:47p Man suffers serious injuries in shooting outside Maplewood Drive barber shop, EMS and police say
02:39p WEST BROMWICH ALBION V MANCHESTER UNITED : Premier League – live!
02:34p EC yet to rule on complaints against Modi, BJP in Gujarat
02:31p MINOR INTERNATIONAL PUBLIC : Wolseley owner to unveil takeover by Thai-listed hotelier Minor
02:23p DELL TECHNOLOGIES : Hilda Montgomery defeats two for Round Rock council spot
02:19p Thales agrees 4.8 billion euro Gemalto takeover to trump rival French bid
02:19p SAMSUNG ELECTRONICS : Galaxy S9, Galaxy S9+ to be launched in February 2018
02:17p ORIENTAL WEAVERS CARPET : OUD seeks to launch residential, commercial projects in New Administrative Capital
Latest news "Companies"
Advertisement