Strategic partnership between MIG and Gallagher

MIG Holding, a regional insurance investment group, and Gallagher, a leading insurance broking and risk management firm, signed a strategic partnership to strengthen their presence in the MENA region.

The agreement allows Gallagher to acquire a 30% stake in ACE, a subsidiary owned by MIG. MIG thus retains a 70% stake.

The transaction is yet to be approved by the regulatory authorities.

ACE is a specialist insurance broker operating in Saudi Arabia, Bahrain, UAE, Oman, Kuwait, Lebanon and Greece.