AXA poised to take a majority stake in Green Crescent Insurance (GCIC)

According to the board of directors of Green Crescent Insurance Company (GCIC), the French AXA Group and its partner Kanoo Group UAE are about to become majority shareholders of GCIC.

The transaction would result in the doubling of capital of GCIC through the acquire of a 27 million USD stake in the form of convertible bonds.

As a reminder, Green Crescent Insurance Company is specialized in life and health insurance.