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Kuwait Insurance gets regulatory nod to buy takaful insurer

Posted On: Mar. 20, 2023 9:48 AM CST


Kuwait Insurance Co. has received approval from the Insurance Regulatory Unit, the Competition Protection Agency and the Capital Markets Authority to acquire a majority stake in Kuwait-based National Takaful Insurance Co., Middle East Insurance Review reported. The company reached a preliminary purchase deal in November 2022 to acquire the stake in the takaful insurance firm.