The UAE acquires a 21.53% stake in the National General Insurance Company (NGI) from Emirates (NBD) National Bank of Dubai. NGI is a company specialized in underwriting, underwriting, and claims listed on the Dubai Financial Market, and its product portfolio includes automotive, medical, travel, home, personal accident, and life insurance. The company said in a statement that NGI's total ownership of Dubai Investments increased to 29.99 percent after executing the direct deal.
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The deal represents the expansion of Dubai Investments' business in the UAE insurance sector, which adds value to the deal.
Khalid bin Kalban, Vice President and CEO of Dubai Investments, said: "The agreement comes within the framework of Dubai Investments focus on strategic business investments that will boost the company's momentum in new business areas. "The insurance sector in the UAE benefits from a sustainable business landscape and a well-regulated framework that greatly facilitates operations. We are excited to add NGI to our business portfolio and launch a new chapter in our growth journey." He added, " Our aim is to capitalize on our shared experience and use it to enhance NGI's reputation as a leading insurance provider in the region."
NGI is a company specialized in underwriting, underwriting, and claims listed on the Dubai Financial Market, and its product portfolio includes automotive, medical, travel, home, personal accident, and life insurance.
Listed on the Dubai Financial Market, Dubai Investments has a paid-up capital of $ 4.25 billion and is interested in key sectors including building materials and construction, real estate, Business setup, manufacturing, industry, healthcare, education, and finance.
