Transactions within the Omani insurance market

Al Anwar Holding has ceded 20.35% of its stake in its subsidiary Falcon Insurance to Arabia Insurance, that is, 1.3 million shares for the amount of 2.4 million OMR (6.2 million USD).

At the same time during this transaction, Falcon Insurance has bought out all Omani business in Arabia Insurance.

Ultimately, Al Anwar Holding will maintain just a 19% shareholding in Falcon Insurance which will no longer be regarded as a subsidiary but as an associated company as of 28 March 2017.

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