Magazine date:
Mar 2017 Nasco Insurance Group has acquired 93.9% from Lebanese insurer Al Ittihad Al Watani (Union Nationale) for the amount of 17.5 million USD. This move has consolidated the group’s insurance activity in Lebanon where it already detains Bankers, the country’s fourth insurer.
The acquisition also consolidates the group’s position in the United Arab Emirates and more particularly in Abu Dhabi where Al Ittihad Al Watani is active.
In addition to the payment made for this acquisition, an extra 10-million-USD contribution has been authorized with a view to covering the losses sustained by the Lebanese insurer.
More news: