MANAMA, Bahrain—ACR ReTakaful MEA B.S.C., a newly formed reinsurer capitalized at $200 million, has been granted a license by the Central Bank of Bahrain.
The Manama-based company is a subsidiary of ACR ReTakaful Holdings in Dubai, United Arab Emirates, which was recently established by Singapore-based reinsurer ACR Capital Holdings Pte. Ltd. and two of its partners.
ACR ReTakaful MEA will provide Sharia-compliant reinsurance on non-life, large-risk accounts. It will focus on business based in the Middle East, the CBB said in a statement announcing the company’s formation.
Friday, July 4, 2008
Bahrain grants license to takaful reinsurer
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