Solidarity Bahrain to acquire Bahrain National Insurance and Bahrain National Life Assurance from BNH for BHD75m.

Solidarity Bahrain, a Sharia-compliant insurance provider, agreed to acquire Bahrain National Insurance, commercial, motor and personal lines insurance provider, and Bahrain National Life Assurance, a company specializing in life and medical insurance, from Bahrain National Holding, a Bahraini insurance group offering insurance and risk management solutions, for BHD75m. "This transaction is a key step in the Group’s flagship subsidiary, Solidarity Bahrain’s strategic journey to position itself as a driving force in the marketplace. By bringing BNI and BNL into the Solidarity family, we will leverage their specialized expertise and established market presence to complement our existing strengths. Once completed, this acquisition is expected to nearly double our current scale in Bahrain, with a combined annual gross written premium projected to exceed BHD 100 million. This turning point will enable us to deliver even greater value and service excellence to our clients, further solidifying our position as Bahrain’s premier insurance provider," Ashraf Bseisu, Solidarity CEO.