Merger of Solidarity and Al Ahlia complete
Tuesday, 12 05 2017, Category: Insurance and Reinsurance, Country: Bahrain
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”.
Source: Trade Arabia