UAE – 4 insurance brokers about to merge
Friday, 03 17 2017, Category: Insurance and Reinsurance, Country: U.A.E
Informed sources in the insurance sector revealed to “Al Khaleej” newspaper that 4 insurance brokerage companies are considering to merge into a single entity under the same legal structure in order to practice this profession.
The sources expect that the new entity will be launched within 12 months in the beginning of year 2018. They added that the merger will help decrease he cost of every single insurance contract sold and will boost the capital of the merged entity.
Additionally, the sources said that the new company will serve both the customers and the companies and will strengthen the negotiation position.
Source: Almal Times