trending Market Intelligence /marketintelligence/en/news-insights/trending/lV8rNWQ9YHODbyfYmXMMdQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Takaful Emarat to acquire Al Hilal Bank's Islamic insurance unit

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Takaful Emarat to acquire Al Hilal Bank's Islamic insurance unit

Takaful Emarat - Insurance (PSC) will acquire Al Hilal Takaful PSC from Al Hilal Bank PJSC in an all-cash transaction that will create the largest Islamic insurance group in the United Arab Emirates based on 2016 gross written contributions.

Terms of the deal were not disclosed. The transaction is set to complete in the first quarter of 2018, pending regulatory approvals.

Mohammad al-Hawari, executive board member and managing director of Takaful Emarat, described the deal as "transformational" for the company, as it will drive the group's growth through a wider range of takaful services and a larger customer base.

Takaful Emarat provides life and health takaful insurance to customers, mostly in Dubai and the northern emirates, while Al Hilal Takaful operates with a general license and mainly offers cover for individual and corporate customers in Abu Dhabi. The two insurance firms wrote more than 900 million UAE dirhams in combined gross written contributions in 2016, according to a Dec. 19 statement.

Takaful Emarat noted that it does not expect the acquisition to have any impact on current takaful policies, contracts, claims settlements or the writing of new insurance business.

KPMG Deal Advisory and Allen & Overy advised Al Hilal Bank, while Milliman and Herbert Smith Freehills advised Takaful Emarat.

As of Dec. 19, US$1 was equivalent to 3.67 United Arab Emirates dirhams.