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April 22, 2021

Dubai Investments raises holding in National General Insurance Company

Dubai Investments has purchased 21.53% shares of National General Insurance Company (NGI) to expand in the UAE’s insurance space.

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The seller of the shares was Emirates NBD. Financial terms of the deal were not made public.

Dubai Investments raised its stake in NGI to 29.99% through the deal.

NGI focuses on motor, marine, property & casualty, construction, engineering, life protection, savings, investment and health/medical insurance.

Dubai Investments’ subsidiary Al Mal Capital was the financial adviser for the deal.

Al Mal Capital is a multi-line investment institution regulated by the Central Bank of the UAE.

Commenting on the transaction, Dubai Investments vice chairman and CEO Khalid Bin Kalban said: “The deal is part of Dubai Investments focus on strategic business investments reinforcing the Company’s foray into newer business sectors.

“UAE’s insurance sector benefits from a stable business landscape and a sound regulatory framework, making it highly conducive for operations. We are pleased to mark a new chapter in our growth journey by adding NGI to our portfolio of businesses.

“As one of the leading composite insurers in UAE, NGI is recognised as a fully accredited National Insurer and we are confident that this partnership will unlock a host of benefits for our customers, investors, and stakeholders.”

Dubai Investments has interests in a range of areas including real estate, manufacturing, financial, healthcare, and education. It owns Dubai Investments Park, Masharie, Al Mal Capital as well as Emicool, among others.

Investment Corporation of Dubai has a 11.54% interest in Dubai Investments.

Meanwhile, in a separate development, Abu Dhabi-based investment firm ADQ is reportedly set to invest $70m in Etechaces Marketing and Consulting.

Etechaces is the parent company of Indian insurance aggregator Policybazaar.

 

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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