OMINVEST’s Insurance Subsidiary, NLGIC, to acquire RSA Middle East towards Building a Leading Multi-Line Insurance Group in the Region

OMINVEST’s Insurance Subsidiary, NLGIC, to acquire RSA Middle East towards Building a Leading Multi-Line Insurance Group in the Region

Muscat, Oman: With common interests to further broaden and strengthen its regional insurance business, National Life & General Insurance Company SAOG (NLGIC) – a subsidiary of Oman International Development and Investment Company SAOG (OMINVEST) – has entered a strategic transaction to acquire 100% shareholding in Royal Sun Alliance (RSA) Middle East. NLGIC will execute the transaction in two parts: (i) purchasing 50.00002% shareholding in RSA Middle East from Sun Alliance Insurance Overseas LTD (SAIO), a fully owned entity of Royal & Sun Alliance Insurance Limited; and (ii) exchanging the remaining…