Saradar acquires majority stake in Assurex. Insurer to continue operations under own name

Saradar Capital Holding announced the acquisition of 51 percent of Assurex SAL, a local insurance and reinsurance company, owned by Fattal Group.

Fattal Group will remain a shareholder with a 49 percent stake, and Assurex will continue to operate under its own name.

The deal is a result of some 18 months of negotiations, and is estimated to be valued at $10 million.

According to Hubert Fattal, Chairman and CEO of Fattal Group, this partnership aims to deliver a common visi...

Article details