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International

Abu Dhabi National Insurance buys 51% stake in Allianz Saudi Fransi

April 19, 2024 Reprints

U.A.E.-based Abu Dhabi National Insurance Co. P.S.C. has completed the acquisition of a 51% stake in Saudi Arabia-based Allianz Saudi Fransi Cooperative Insurance Co. for 499 million Saudi riyals ($133 million), Gulf News reported. The transaction is expected to reinforce the firm’s position in the GCC insurance market, mainly in Saudi Arabia.

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Abu Dhabi National Insurance buys 51% stake in Allianz Saudi Fransi

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