Mubasher: Al Ahlia Insurance said Sunday that the suggested merger with Solidarity Group Holding will result in forming the largest takaful company and one of the three leading top tier insurers in the Kingdom in terms of gross written premiums.
Al Ahlia noted that the expected ranking was achieved by analysing the results of written premiums in the financial statements of the two companies for fiscal year 2016 and comparing them to their counterparts in the local insurance market, according to a bourse statement.
The procedures for the merger are subject to the approvals of the Central Bank of Bahrain (CBB) and the ministries of industry, commerce, and tourism, the statement added.
