Qatar: Alkhaleej Takaful agrees to sell stake in Bahraini life insurer

Source: Middle East Insurance Review | Aug 2024

Doha-headquartered AlKhaleej Takaful Insurance Company has agreed to sell its 25% equity in Bahrain National Life Company (BNL).

In a statement issued last June, Alkhaleej Takaful announced that it had signed a sale and purchase agreement with Bahrain National Holding (BNH) to sell 25% equity in Bahrain National Life (BNL) at a price of BHD3m, equivalent to QAR29,042,553 ($8m).

The agreement is subject to obtaining necessary approvals by the relevant regulatory and supervisory bodies. AlKhaleej Takaful acquired the 25% stake in BNL in 2008 for QAR21,454,000.

AlKhaleej Takaful was established in 1979 to provide conventional insurance and reinsurance services. In 2010, it became a takaful company.

BNH is a Bahraini insurance group, offering a comprehensive range of insurance and risk management solutions. It was established in 1998 through a merger between Bahrain Insurance Company and National Insurance Company. M

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