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Tokio Marine & Nichido Fire Insurance to sell its stake in Arabian Shield

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Magazine Issue: 
Reinsurance, a chair for two [3]
Magazine date: 
Jan 2024

partnershipTokio Marine & Nichido Fire Insurance has agreed to sell its 5.75% stake in Arabian Shield Cooperative Insurance to Alinma Bank.

Pending regulatory approval, the transaction is expected to be finalized in March 2024.

Tokio Marine & Nichido Fire Insurance, in partnership with Alinma Bank, established Alinma Tokio Marine Company in 2012 to carry out life and non-life insurance business in Saudi Arabia.

In November 2023, Alinma Tokio Marine Company and Arabian Shield successfully completed their merger, which resulted in the delisting of the former from the Saudi "Tadawul" stock exchange.

Read also | Arabian Shield Cooperative Insurance: share capital increase [4]

Fri, 19/01/2024 - 16:32

Source URL: https://www.atlas-mag.net/en/category/pays/arabie-saoudite/tokio-marine-nichido-fire-insurance-to-sell-its-stake-in-arabian-shield

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