Bahrain’s Solidarity Group has announced the successful acquisition of 100 percent shares in both Bahrain National Insurance Company (BNI) and Bahrain National Life Company (BNL). This transaction marks a significant expansion for Solidarity, enhancing its market presence in the insurance sector.

The completion of this acquisition means that Solidarity has directly acquired 100 percent of BNL’s shares, as well as the shares of BNI, which is a major part of Solidarity Group Holding. This move aligns with the previously disclosed structure of the transaction.

Solidarity anticipates that this acquisition will nearly double its current scale in Bahrain. The companies are projected to have a combined annual gross written premium exceeding BD100 million, which Solidarity believes will positively impact its consolidated financial position by improving operational efficiencies and market leadership in both general and life insurance sectors, supporting long-term growth and profitability.