Lebanon – Al-Ittihad Al-Watani bought by Nasco
Wednesday, 12 14 2016, Category: Insurance and Reinsurance, Country: Lebanon
The Insurance Control Commission approved the transfer of ownership of the shares of the insurer Al-Ittihad Al-Watani to “Nasco Holding” in a move to merge the mentioned company with the insurer “Bankers”.
The commission considers this step very positive in order to encourage mergers and acquisitions among insurers and strengthen the financial solvency, investment capabilities, human resource, risk management and information technology in the sector. This in turn will translate into better insurance services for policyholders.
Source: National News Agency