Solidarity Bahrain's acquisition of BNI and BNL greenlit by Central Bank

Solidarity Bahrain has secured approval from the country's Central Bank (CBB) for the acquisition of two Bahrain National Holding (BNH) subsidiaries.

Under the terms of the transaction, Solidarity will acquire 100% of the capital of Bahrain National Insurance Company (BNI) and Bahrain National Life Assurance Company (BNL) for a total amount of 75 million BHD (197.2 million USD).

Pending the final approval of the Ministry of Industry and Commerce, this acquisition is expected to boost the Bahraini insurer's financial position.