Oman Insurance coverage sells Turkey enterprise

Arabian Publish Workers

Oman Insurance coverage Firm introduced it has accomplished the sale of its insurance coverage operations in Turkey to VHV Reasürans, Istanbul/Turkey, an organization of VHV Group, Hannover/Germany.

The dimensions of the monetary transaction was not disclosed.

This transaction represents a continuation of Oman Insurance coverage’s transformation and simplification technique with the target to focus firm’s assets on particular markets and segments.

Jean-Louis Laurent Josi, CEO of Oman Insurance coverage Firm commented on the event, “With this transaction, we’ve bolstered our focus and dedication to serving our core markets. Since 2012, we’ve supported Dubai Sigorta with constructing sturdy underwriting and repair capabilities, benefitting from Oman Insurance coverage’s intensive product and model depth. VHV Group being some of the necessary insurers and the chief within the building sector in Germany, I’m additionally thrilled that, following this transaction, each our corporations will cooperate sooner or later to insure particular dangers collectively, each in Turkey and within the UAE. I additionally wish to congratulate all the workers of Dubai Sigorta for what they’ve achieved and thank them for his or her exhausting work and dedication through the years.”

Additionally printed on Medium.