Bahrain - Cigna Life Ins. receives a License from regulator
Tuesday, 04 16 2019, Category: Insurance and Reinsurance, Country: Bahrain
The Central Bank of Bahrain (“CBB”) has granted a license to “Cigna Life Insurance Company of Europe S.A. – N.V.” (“Cigna”) to open a branch of an Insurance Firm in Bahrain. The license allows the entity to expand its insurance products in the Kingdom of Bahrain.
The proposed branch is expected to contribute in medical insurance sector and hereby, it is targeted to engage with local brokers to offer its medical coverage products to Multinational companies with exposure in Bahrain, Local private enterprises with operations abroad requiring international coverage and Government sponsored entities requiring local and international Health cover.
Cigna group is a global health service company with a trace back more than 200 years as a result of the combination between the “Insurance Company of North America” that was formed in 1792 with the “Connecticut General Corporation” in 1982.
Cigna is represented in 30 countries and jurisdictions and has more than 95 million customer relationships throughout the world and more than 40,000 employees serving its customers.
Mr. Ahmed Al-Bassam, Director of Licensing, Central Bank of Bahrain, commented “We welcome Cigna’s decision to choose Bahrain as an arm of its group for reaching out to the local customers and the GCC Market, to provide its worldwide Health coverages, emphasizing that its presence in the region will contribute positively in the medical insurance services given their track record in the health service industry.”
Source: Central Bank of Bahrain