UAE: Speculations over merger and acquisition fund

The Dubai and Abu Dhabi stock exchange markets have been under increasing speculations regarding some securities in early January. The rapprochement between National Bank of Abu Dhabi and FGB, the two main banks in the emirate of Abu Dhabi, seems to be behind this agitation.

Investors are expecting similar moves in the insurance sector. The share price of main insurers has consequently undergone increases up to 15% for some of them. The number of players in the insurance sector is deemed too high. A consolidation like the one witnessed in the banking business is therefore pushing the share prices of insurance companies upwards.

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