GIG, major shareholder in Egyptian Life Takaful Company

As part of its expansion strategy, Gulf Insurance Group (GIG) plans to increase its stake in Egyptian Life Takaful Company. Following the agreement of the Egyptian regulatory authority, the Kuwaiti insurer intends to increase its shares in Egyptian society from 59.5% to 90%. The amount of the transaction has not been revealed yet.

Let's us note that last July, GIG already acquired 49% of the capital of the Algerian insurer 2A (l'Algérienne des Assurances).