QATAR: The board of directors of Al Khaleej Insurance & Reinsurance Company has approved the 2% share purchase in Al Jisr Takaful Insurance Company for QAR5.05 million (US$1.4 million).
Al Jisr was established as an equal partnership between the national insurance companies in Qatar and Bahrain, with the Qatar Foundation and Pension Fund as partners with 20% each.
The company plans to offer the remaining 60% of its paid-up capital to the public.
Earlier this month, Al Koot Insurance and Reinsurance, a subsidiary of Gulf International Services, also acquired a 2% stake in Al Jisr for QAR5.05 million.