UAE’s Orient Ins. eyes new Saudi arm
Wednesday, 07 03 2019, Category: Insurance and Reinsurance, Country: Saudi Arabia
UAE-based Orient Insurance PJSC studies a plan to establish a new subsidiary in Saudi Arabia, with a capital of AED 200 million (EGP 909.2 million), said head of Orient’s Egyptian unit on Thursday.
“Saudi Arabia has a strong insurance market that could attract foreign investment and we expect to get the licence and regulatory approvals at the end of this year,” Mohamed Abdel Rasool said on the sidelines of a press conference in Cairo.
Orient Insurance PJSC is also looking to tap various insurance markets in Central and West Africa regions, Abdel Rasool added.
Source: Amwal Al Ghad