24 March 2007
AXA Insurance Gulf has acquired 10 per cent shareholding of United Insurance Company (UIC) from Bahraini shareholders in a large premium deal.
AXA has bought 150,000 shares equally from four Bahraini companies - Bahrain National Holdings, Bahrain National Insurance, Bahrain Kuwait Insurance and Al Ahlia Insurance Company.
Andrea Rossi, CEO AXA Insurance Gulf, said: "We are happy to be part of this very successful enterprise which has great growth potential and accelerates our growth in the GCC market."
UIC was set up in 1985 to protect the Bahraini public by ensuring that all vehicles entering the country carry insurance and has remained the sole provider of insurance for vehicles crossing the King Fahad causeway.
AXA Insurance Gulf has acquired 10 per cent shareholding of United Insurance Company (UIC) from Bahraini shareholders in a large premium deal.
AXA has bought 150,000 shares equally from four Bahraini companies - Bahrain National Holdings, Bahrain National Insurance, Bahrain Kuwait Insurance and Al Ahlia Insurance Company.
Andrea Rossi, CEO AXA Insurance Gulf, said: "We are happy to be part of this very successful enterprise which has great growth potential and accelerates our growth in the GCC market."
UIC was set up in 1985 to protect the Bahraini public by ensuring that all vehicles entering the country carry insurance and has remained the sole provider of insurance for vehicles crossing the King Fahad causeway.
© Bahrain Tribune 2007
