Abu Dhabi-headquartered BlueFive Capital yesterday announced the launch of BlueFive Insurance, a dedicated platform to lead the consolidation, digitisation, and specialisation of the insurance industry across the Gulf Cooperation Council (GCC) and beyond.
A press release issued by the investment firm said, “The GCC insurance market, while possessing significant potential, remains heavily fragmented. BlueFive Insurance is founded on the conviction that the region is ripe for a new phase of growth driven by scale, technological adoption, and operational efficiency.
“The platform will actively pursue investments and acquisitions in both Sharia-compliant and conventional licensed insurers to build a market-leading, digitally native insurance group.”
The new insurance platform’s strategy is built on three core pillars:
1. Consolidation: Acquiring and integrating existing licensed players to achieve scale, reduce market fragmentation, and create a stronger, more resilient insurance champion for the region.
2. Digitisation: Leveraging advanced data intelligence and automation to enhance underwriting precision, distribution optimisation, improve risk management, and streamline customer interactions.
3. Specialisation: Focusing on operational excellence and introducing specialised capabilities that are currently under-penetrated in the local market, with a future view to applying this expertise to the reinsurance sector.
Following its initial focus on the GCC, BlueFive Insurance plans to expand its consolidation strategy to other markets in the Middle East and Southeast Asia. BlueFive Insurance aims to play a prolific role in advancing the insurance industry. Its goal is to redefine the insurance experience for customers and set new standards for performance and innovation in the region.
Non-binding agreement to invest in an insurer
Gulf General Cooperative Insurance Co (GGCI) has announced the execution of a non-binding offer (NBO) by BlueFive Investments Holding, under which, BlueFive intends to subscribe to new cash shares in the insurer by way of a capital increase with the suspension of pre-emptive rights.
In a statement lodged with the Saudi Exchange yesterday, GGCI stated that the NBO was signed on 28 November 2025.
The NBO included a condition that the insurer shall proceed with a reduction of its capital to reduce its accumulated losses, or parts thereof, immediately followed by a capital increase (with the suspension of pre-emptive rights of existing shareholders) of equal amount by way of cash subscription for new shares by BlueFive at a price of SAR10 ($2.67) per share.
The deal is subject to obtaining the necessary regulatory approvals, including the approvals of the Insurance Authority and the Capital Market Authority, as well as the approval of the insurer’s shareholders, in addition to other conditions that will be included in the definitive agreements. These agreements are to be executed between the two parties, that is, two months from 24 November 2025 (or such later date as extended by written agreement of both parties); or the parties mutually decide to conclude discussions on the deal.
GGCI shareholders are to vote at an extraordinary general meeting, to be held on 10 December 2025, on the board of directors' recommendation on the continuation of the company after its losses reach half (54%) of its capital as of 31 March 2025. The accumulated losses have since increased. As of 30 September 2025, they amounted to SAR223m or 74.3% of the issued capital of SAR300m.
The measures taken to address the accumulated losses, in accordance with the recommendation of the board of directors, are as follows:
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Reduction of general and administrative expenses
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Continuation of intensive efforts to minimise losses in individual motor insurance.
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Growth of sales through digital channels to improve cost efficiency
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Continuation of intensive efforts to improve pricing and rationalise costs
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Considering all other potential measures, including, but not limited to, increasing capital (either by offering new priority rights shares to current shareholders, or by increasing capital through the issuance of new shares with suspended priority rights to new strategic investors or to current shareholders) or by merging with another company listed in the market.
Founded in November 2024 and incorporated in Abu Dhabi Global Market, BlueFive Capital is a global investment platform that targets opportunities in high-potential economies to transform traditional financial models and foster sustainable growth. It has offices in London, Manama, Abu Dhabi, Dubai, Muscat, Singapore, and Beijing, and a presence in Riyadh and Jeddah.