Orient Insurance acquires ADCB Group’s shares in Orient Takaful

DUBAI, UAE: Orient Insurance, a subsidiary of Al Futtaim Group, announced that it has completed acquiring the shares of ADCB Group in Orient Takaful Insurance Company (An Egyptian Joint Stock Company) amounting to 20% of the company’s total shares, this purchase will increase Orient UAE’s share to 80% of the total shares of the Egyptian company.

Omer Elamin, President of Orient Group, said that the completion of the transaction is in the line with Orient’s keenness to increase its participation in the Egyptian insurance market in view of the promising economic opportunities.

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