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International

GIG Egypt gets regulatory nod for acquisition of AIG Egypt

April 04, 2023 Reprints

Gulf Insurance Company K.S.C.’s subsidiary GIG Egypt has received approval of the country’s Financial Regulatory Authority to acquire a 95.02% stake in AIG Egypt Insurance Co. S.A.E. for 196.97 million Egyptian pounds ($6.4 million), Middle East Insurance Review reported. After the deal is completed, Gulf Insurance Company plans to merge the two businesses.

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GIG Egypt gets regulatory nod for acquisition of AIG Egypt

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