Abu Dhabi National Insurance Company (ADNIC), one of the leading regional multi-line insurance providers for both corporates and individuals, has completed the strategic acquisition of a 51% stake in Allianz Saudi Fransi Cooperative Insurance Company in Saudi Arabia.
The acquisition will make ADNIC one of the Tier - 1 listed insurers in Saudia Arabia, strengthening its position as a leading insurer in the Gulf region. As part of its strategic growth strategy, ADNIC has been actively exploring opportunities and expanding its geographical footprint.