ARIG ceases operations and seeks buyer

Arab Insurance Group (ARIG), which is currently out of business, has appointed Emirates NBD Capital as financial advisor to help it find a buyer for the company's 100% capital.

For the record, the shareholders, meeting in an extraordinary general meeting on 13 August 2020, approved the cessation of the company's reinsurance activities, the placement in run-off of the current portfolio and the possible search for a buyer to take over the company.

The Bahraini group, founded in 1980, counts among its shareholders the governments of Kuwait, Libya and the United Arab Emirates.