Solidarity Bahrain has established itself as a dominant force in the Bahrain market through a series of well-executed mergers and acquisitions (M&A).Its latest move, the acquisition of Al Hilal Life and its subsidiary Al Hilal Takaful, marks another pivotal step in its ambitious expansion plans.Growing life and family takaful and finding new markets are Solidarity’s core strategic goals, and this acquisition aligns perfectly. Solidarity is now an authority on M&A, using this key competency to push their vision and create innovation and differentiation in the insurance sector.

The vision is clear: expand life and family takaful, enter new markets. This acquisition, fuelled by their M&A expertise, brings Solidarity closer to that vision, while driving growth and innovation in insurance.This strategic move strengthens Solidarity’s life and family takaful offerings with Al Hilal’s market share and expertise, solidifying its leading position in this booming segment. The expanded product portfolio and access to Kuwait fuel growth while cross-selling opportunities unlock further potential. Streamlined operations, talent acquisition, and combined brand strength reinforces Solidarity’s leadership position in the region.Solidarity Bahrain’s M&A journey began in 2016 with the acquisition of Al Ahlia Insurance.

This strategic move provided a strong foundation in the insurance segment.Following this success, the company acquired T’azur Company in 2021, significantly bolstering its takaful offerings. Now, the acquisition of Al Hilal Life and Takaful further strengthens its position in the life and family takaful space, opening doors to the promising Kuwaiti market.Solidarity Bahrain’s M&A strategy is not merely about acquiring market share; it is about strategically integrating acquired entities to unlock operational synergies and expand product offerings.Each acquisition has allowed the company to diversify its revenue streams, enhance brand recognition, and gain geographical reach.

By adding new product lines and expanding customer bases, Solidarity Bahrain has mitigated risk and ensured a steady flow of income.Through its focus on customer service and a diverse portfolio, the insurer has established itself as a trusted and reliable brand.The Al Hilal acquisition paves the way for entry into the Kuwaiti market, solidifying Solidarity Bahrain’s regional presence.Looking ahead, the company is set to focus on expanding into new markets, acquiring niche players, and embracing innovation.The GCC region and beyond remain potential targets for strategic acquisitions for Solidarity Bahrain.Companies with specialised expertise or a strong presence in underserved segments could further diversify the company’s offerings.Finally, to stay ahead of the curve in the evolving insurance landscape, Solidarity Bahrain plans to use M&As, as they can be a powerful tool for acquiring new technologies and talent.Solidarity Bahrain’s M&A story is a testament to the power of strategic acquisitions and consolidation in driving growth and success. By carefully choosing targets, effectively integrating entities, and capitalising on synergies, the company has transformed itself from a local player into a regional powerhouse. As it continues to navigate the dynamic insurance market, its commitment to strategic M&A is sure to propel it to even greater heights.The company wrapped up three-year 2021-2023 strategy cycle and has now started the new 2024-2026 strategy cycle titled ‘GROW’, as part of its vision to provide a wide range of Sharia-compliant protection products through high quality customer services delivered by well-trained and dedicated staff attentive to the needs of personal and corporate policyholders.

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