ADNIC completes acquisition of Allianz Saudi Fransi

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ADNICAbu Dhabi National Insurance Company (ADNIC) has finalized the acquisition of 51% of Allianz Saudi Fransi. The transaction amounted to 499.008 million SAR (131.1 million USD).

The Emirati insurer had signed an agreement in September 2023 to acquire a majority stake in the capital of the Saudi insurance company, a subsidiary of the Allianz group.

This operation will allow ADNIC to strengthen its position in the insurance markets of the Gulf Cooperation Council (GCC) countries, including Saudi Arabia.

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Mon, 22/04/2024 - 08:27
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