Bahrain: Solidarity completes merger of Al Hilal Life and subsidiary

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Bahrain - Solidarity Bahrain, a leading insurer in the kingdom and a subsidiary of Solidarity Group Holding, has successfully completed the merger of Al Hilal Life and its subsidiary Al Hilal Takaful following regulatory approvals from the Central Bank of Bahrain and other relevant parties.

The merger supports Solidarity’s strategy to expand into the regional insurance sector and enter the Kuwaiti market. It also aims to promote growth through the development of the company’s life and family Takaful products.

This transaction is the latest in a series of successful mergers and acquisitions (M&A) that Solidarity Bahrain has undertaken in recent years within Bahrain.

Solidarity Group Holding, the majority shareholder of Solidarity Bahrain, has a strong track record of successful M&As both in Bahrain and regionally. The group’s market-leading M&A expertise has once again helped Solidarity Bahrain achieve outstanding success with this latest merger.

Commenting on the merger, Solidarity Bahrain chief executive Jawad Mohammed said: “We are pleased to welcome Al Hilal Life and Al Hilal Takaful to Solidarity Bahrain.

This merger reflects our commitment to expanding our presence locally and regionally.

It also aligns with our strategy to develop our life and family Takaful offerings. We look forward to combining our expertise with Al Hilal Life and Al Hilal Takaful to drive growth and innovation and to strengthen Solidarity as a key player in the insurance industry.”