Insurance: M&A activity in the GCC region

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merger and acquisitionA report published by Alpen Capital indicates that M&A activity among insurance companies in the GCC region has picked up pace over the past two years. Between 2021 and 2023, the region saw 33 transactions, most of which - that is, 20 deals - were completed in 2022.

Among the factors driving insurers towards M&A activity are operators' strategic plans, regulatory changes, competitive pressures and the scarcity of insurance licenses.

The study predicts that M&A transactions will continue to increase over the next few years.

List of M&A transactions in 2023

BuyerCountry Target companyCountry YearAmount in millions USDShareholding
Solidarity BahrainBahrainAl Hilal LifeBahrain2023N/A100%
Abu Dhabi National Insurance CompanyUnited Arab EmiratesAllianz Saudi Fransi Cooperative Insurance CompanySaudi Arabia2023133.151%
Sukoon United Arab EmiratesChubb Tempest Life ReinsuranceBermuda2023N/AN/A
Faifax Financial HoldingCanadaGulf Insurance GroupKuwait2023851.446.3%
Strakhovy BudynokUkraineInsurance HouseUnited Arab Emirates2023N/A100%
BMS GroupUnited KingdomBerns Brett Masaood InsuranceUnited Arab Emirates2023N/AN/A
Kuwait Insurance CompanyKuwaitNational Takaful Insurance CompanyUnited Arab Emirates2023N/A74%
Al Alfia HoldingQatarSEIB Insurance & Reinsurance CompanyQatar2023N/A10%
Oman Qatar Insurance CompanyOmanVision InsuranceOman20234 769.4100%

Read also | Insurance M&A: main deals concluded in 2021 and 2022

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Thu, 08/02/2024 - 17:13
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