Oman Insurance completed the acquisition of a 49% stake in Dubai Starr Sigorta.

Oman Insurance, a composite insurance company, completed the acquisition of a 49% stake in Dubai Starr Sigorta, a niche commercial insurer based in Turkey, from Starr International, an insurance and travel assistance company. Financial terms were not disclosed. Oman Insurance completed 100% acquisition of Dubai Starr Sigorta by obtaining additional 49% of issued and outstanding share capital. In 2012, Oman Insurance bought 51% stake in Dubai Starr Sigorta which was an auto agency based in Istanbul. This move further strengthens Oman Insurance Company’s geographical diversification along with its strong presence in the UAE and Oman. The acquisition further bridges an opportunity to reach and explore European markets.