Al Sagr National Insurance Company's majority shareholder to sell its stake

Al Sagr National Insurance Company (ASNIC) has announced that its majority shareholder plans to sell its 47.08% stake in the Dubai-based company.

The identities of the seller and buyer, the amount of the transaction and the reasons for the sale were not disclosed.

According to its latest corporate governance report, ASNIC is 47.08% owned by Gulf General Investments Company (GGICO).

The company's minority shareholders include Near East Investment and INMAA General Trading, which hold 8.75% and 7.5% respectively.