Bahrain – Consultations to merge local insurers
Friday, 02 17 2017, Category: Insurance and Reinsurance, Country: Bahrain
Mr. Abdul Rahman Al Baker Executive Director of Financial Institutions Supervision at the Central Bank of Bahrain revealed that there are consultations to merge a number of Bahraini insurance companies but they are still in their preliminary stages and will need the endorsements of the boards of directors; this follows the successful merger between Solidarity and Ahlia insurance in the beginning of this year.
Moreover, Mr. Al Baker said in statements to journalists at the margins of the announcement of the The 13th Annual Middle East Insurance Forum that will be hosted by Bahrain on February 20th this year “the growth opportunities in the insurance sector in the Bahrain are great. We at the Central Bank of Bahrain believe in the importance of mergers between insurance companies”.
Source: Al Ayam