The Saudi Stock Exchange (Tadawul) has announced the suspension of trading in Buruj Insurance Company (Buruj) shares, pending the commencement of procedures to delist the stock permanently, following the merger of Buruj with the Mediterranean and Gulf Insurance and Reinsurance Cooperative Company (MedGulf).
The newly-established sovereign wealth fund Danantara has plans to consolidate the state-owned insurance and reinsurance sector, the fund's managing director and chief economist, Reza Yamora Siregar, has announced.
Solidarity Bahrain, a subsidiary of Solidarity Group Holding, has completed the transfer of shares of Bahrain National Insurance Co (BNI) from the parent company.
The Competition Commission of the Common Market for Eastern and Southern Africa (COMESA) has published a notice of inquiry into the proposed acquisition of Egypt's Delta Insurance by Morocco's Wafa Assurance.
The Financial Regulatory Authority (FRA) has approved the publication of a mandatory tender offer submitted by a leading Moroccan insurance company, Wafa Assurance, to acquire shares in Delta Insurance Company.
The Capital Market Authority has approved the proposed capital increase of Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MedGulf) by 31.58% to SAR1.38bn ($368m) from SAR1.05bn, the insurers disclosed in separate statements lodged with the Saudi Exchange.
A legal notice filed by Community Reinsurance Corporation has announced a proposed business transfer in the UK reinsurance sector.
Arab Insurance Group has announced the sale of Tivoli Capital, UK (in run-off). As a result, the UK unit is no longer a subsidiary of ARIG, which did not provide financial details of the sale.
To mark its 5th anniversary, PAObank has announced a strategic partnership with China Ping An Insurance (Hong Kong) Company Limited (CPAIHK).
Jerusalem Insurance Company (JICO) has announced the completion of its acquisition of 72% of the shares of Arabia Insurance Company - Jordan (Arabia Jordan), after completing all regulatory requirements and obtaining final approvals from the competent regulatory authorities, led by the Central Bank of Jordan, the Securities Commission, and the Companies Control Department.