Bank Al Jazira completes purchasing Solidarity Group shares deal in “Al Jazira Takaful”

Bank Al Jazira announced the completion of a special deal to purchase 4.6 million shares in Al Jazira Takaful Cooperative Company, which had previously announced its signing of an agreement to purchase Solidarity Holding Group (a Bahraini closed joint stock company) in Al Jazira Takaful Cooperative Company amounting to 7.05% of the company’s capital, after it had A no-objection from the Central Bank of Saudi Arabia “SAMA” was obtained for the purchase request.

According to the bank, the value of the deal is 76.2 million riyals, stressing that through it it seeks to confirm its commitment to supporting the financial sector and expanding the scope of its presence by diversifying its investments, and it also reflects its positive aspirations for the future growth of the insurance sector.

The company’s activity is represented in providing various insurance products such as medical insurance, vehicle insurance, marine insurance, accident and liability insurance, property insurance, engineering insurance, aviation liability insurance, and protection and savings insurance.