ARIG plans full ownership of Takaful Re

Arab Re-Insurance Group (ARIG) plans to acquire the entire Emirati company Takaful Re. The Bahraini reinsurer is considering buying the 46% remaining stakes it doesn't currently own in Takaful Re. This transaction comes as part of the insurance regulatory authority will to consolidate the market in the Gulf.

Many waves of mergers and acquisitions have already been undertaken this year. Thus, last April, the Bahraini insurance company, Bahrain Kuwait Insurance already increased its 40.9% share in the capital of Takaful International. Same case for Omani insurance company, Al Madina Insurance that announced, last June, the acquisition of its competitor Vision Insurance.