Dar Al Takaful, Watania close merger – The National

Dar Al Takaful PJSC and National Takaful Co. (Watania) PJSC have merged their operations, The National reported.

The new entity recently received regulatory and shareholder approval for the transaction and started trading on the Dubai Financial Market on July 4.

Emirates NBD Capital was the sole financial adviser while Hadef and Partners were legal advisers to National Takaful. Ibrahim and Partners were legal advisers to Dar Al Takaful.

KPMG was the sole valuation and financial due diligence adviser while Milliman was the sole actuarial adviser.