Gulf Tamin, a consortium led by Lepercq, de Neuflize & Co, a New York based financial company, and Callaway Capital Management, a US based hedge fund, today acquired 13.85% of Arab Insurance Group (ARIG).

Gulf Tamin was advised by SICO, a leading GCC investment bank, and legal advisors Trowers & Hamlins and Zu’bi and Partners.

Wissam Haddad, Head of Investment Banking and Real Estate at SICO, said: “We are delighted to be working closely with Gulf Tamin and their international shareholders and to have now successfully completed their purchase of a significant 13.85% shareholding in Arab Insurance Group.”

Daniel Freifeld, Director of Gulf Tamin, stated: “We are pleased to have secured a stake in the renowned insurance company ARIG. We look forward to working with the Board to reinvigorate ARIG’s underwriting business in Bahrain and the region.”

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