Magazine date:
Apr 2024 
Abu Dhabi National Insurance Company (ADNIC) has finalized the acquisition of 51% of Allianz Saudi Fransi [4]. The transaction amounted to 499.008 million SAR (131.1 million USD).
The Emirati insurer had signed an agreement in September 2023 to acquire a majority stake in the capital of the Saudi insurance company, a subsidiary of the Allianz group.
This operation will allow ADNIC to strengthen its position in the insurance markets of the Gulf Cooperation Council (GCC) countries, including Saudi Arabia.