Gulf Tamin Acquires 13.85% Stake in Bahrain-listed Arab Insurance Group

Gulf Tamin Acquires 13.85% Stake in Bahrain-listed Arab Insurance Group

Gulf Tamin Ltd, a consortium led by Lepercq, de Neuflize & Co, a New York based financialcompany, and Callaway Capital Management LLC, a U.S. based hedge fund, today acquired 13.85%of Arab Insurance Group (ARIG).

Gulf Tamin Ltd. was advised by SICO BSC (c), a leading GCC investment bank, and legal advisorsTrowers & Hamlins and Zu’bi and Partners.

Wissam Haddad, Head of Investment Banking and Real Estate at SICO, said, “We are delightedto be working closely with Gulf Tamin and their international shareholders and to have nowsuccessfully completed their purchase of a significant 13.85% shareholding in Arab InsuranceGroup.”

Daniel Freifeld, Director of Gulf Tamin Ltd, stated, “We are pleased to have secured a stake inthe renowned insurance company ARIG. We look forward to working with the Board to reinvigorateARIG’s underwriting business in Bahrain and the region.”

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