UAE’s Dar Al Takaful in Talks to Acquire Noor Takaful Sister Companies

The United Arab Emirates’ (UAE) Dar Al Takaful is currently in negotiations with Noor Investment Group (UAE) and Noor Bank (UAE) to undertake a 100% acquisition of both Noor Takaful General (NTG) and Noor Takaful Family (NTF).

The transaction which is pending shareholder and regulatory approval, and is expected to be finalised by mid-2020. Following the acquisition, both NTG and NTF will continue their business activities as is, without any significant changes.

Once complete, the transaction will help to consolidate the UAE’s fragmented insurance market and allow Dar Al Takaful to build up scale and grow its market share. This acquisition is also an opportunity for Dar A...