Orient Insurance mulls setting up Saudi unit

Posted On: Jul. 2, 2019 5:59 AM CST

U.A.E.-based Orient Insurance P.J.S.C. is considering setting up a new subsidiary in Saudi Arabia with 200 million United Arab Emirates' dirhams ($54 million), Amwal Al Ghad reported. Mohamed Abdel Rasool, head of Orient Insurance's Egyptian unit, said that Saudi Arabia's insurance market is likely to attract increased foreign investment this year. Orient Insurance is also looking to enter various insurance markets in Central and West Africa, he added.