UAE general insurer to be merged under new Bermuda-based insurer

Posted On: Oct. 15, 2019 6:26 AM CST

U.A.E.-based International General Insurance Co. Ltd. and U.S.-based special purpose acquisition firm Tiberius Acquisition Corp. have signed an agreement to merge under a new holding company, which will be domiciled in Bermuda, Middle East Insurance Review reports. The new holding company, International General Insurance Holdings, Bermuda, is expected to be listed on the Nasdaq Capital Market with a market capitalization of around $550 million.