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Abu Dhabi considers sale of 24pct share in insurance firm
(MENAFN) Abu Dhabi Investment Council is considering the sale of its almost 24 percent share in Abu Dhabi National Insurance Co. (ADNIC).
Moreover, the council is an investment arm of the Abu Dhabi government, with holdings in several listed firms like First Abu Dhabi Bank and Abu Dhabi Commercial Bank.
Meanwhile, the sale plan is still in its preliminary stages, while it could attract more bidders.
In addition, Zurich Insurance Group decided to leave its general insurance business in the UAE last year after a review concluded the investment needed was not justified by its growth potential.
Moreover, the council is an investment arm of the Abu Dhabi government, with holdings in several listed firms like First Abu Dhabi Bank and Abu Dhabi Commercial Bank.
Meanwhile, the sale plan is still in its preliminary stages, while it could attract more bidders.
In addition, Zurich Insurance Group decided to leave its general insurance business in the UAE last year after a review concluded the investment needed was not justified by its growth potential.
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