Dar Takaful to conclude Noor Takaful buyout

The Islamic insurance company Dar Al Takaful is finalizing the acquisition of 100% of Noor Takaful General and Noor Takaful Family, two Islamic life and non-life insurance companies of the Noor Takaful Group.

The amount of the transaction amounts to 215 million AED (58.5 million USD) payable in cash. The transaction has already been approved by the shareholders of the two groups and the supervisory authorities.

The agreement between the two parties is expected to be concluded by 30 June 2020. This acquisition is part of Dar Al Takaful's strategy to develop its market share in the insurance industry.

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