Bahraini insurer plans to acquire takaful firms

Insurer Bahrain National Holding BSC said that it is looking to diversify its business through the acquisition of one or more takaful companies, hoping to benefit from the growth of the Islamic insurance market, Middle East Insurance Review reported citing Alayam. Farooq Yusuf Almoayyed, chairman of the insurer, said that the firm does not plan to expand outside of its local market due to the fierce competition.