UAE: Orient Insurance to expand into 3 other countries
Source: Middle East Insurance Review | Nov 2024
Orient Insurance, the biggest insurer in the UAE, has confirmed plans to expand into Saudi Arabia, Egypt and Australia.
Orient Group president Omer Elamin said, “Regarding Saudi Arabia expansion, the company has indeed received official approval to open a branch in Saudi Arabia, as disclosed on the market’s website on 16 February 2020. Due to the COVID-19 pandemic, the start of operations was postponed, with a clarification published on 5 July 2020. Currently, the company is in the final stage of licensing and starting operations.
“Regarding Egypt and Australia expansion plans, the company owns a general takaful company in Egypt and is exploring expansion opportunities in the takaful market in Australia.
UAE takaful and insurance industry.” M