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Article: United Arab Emirates: CBB issues British Insurance Group Legal and General two licenses.
- Article from:
- TendersInfo
- Article date:
- February 5, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: sander03
The Central Bank of Bahrain has granted licenses to Legal and General Gulf and Legal and General Gulf Takaful.The two new companies will offer life insurance and Takaful services in Bahrain and the broader Middle East.
The two companies will be established with total paid up capital of BD10m which will be contributed equally by British Insurer Legal & General Group Plc. (LGEN.L) and Ahli United Bank B.S.C. (AUBB.BH). The shareholders plan to offer customers in the Middle East a wide range of products and services, including both traditional and Takaful life insurance. The two companies will market their products initially through AUB's ...