Abu Dhabi Commercial Bank (ADCB) has ceded 49% of UAE’s Orient UNB Takaful and 20% of Orient Takaful Egypt to Orient InsuranceCompany. The transaction is expected to be finalized within six months and is yet to be approved by the regulatory authorities.
ADCB is to sell its stake in Orient UNB Takaful for 77 million AED (20.9 million USD).
Read also | MENA insurance market [4]
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[3] https://www.atlas-mag.net/en/issue/covid-19-renewed-concern-among-insurers
[4] https://www.atlas-mag.net/en/article/mena-insurance-market-in-2019-turnover-by-country