Solidarity Completes Acquisition of BNI-BNL
Deal News | Apr 17, 2025 | Zawya
Solidarity Group Holding has completed the acquisition of 100 percent of the shares in Bahrain National Insurance Company (BNI) and Bahrain National Life Company (BNL), securing significant strategic advantages in both the general and life insurance sectors. The acquisition aligns with previously disclosed transaction structures and is expected to nearly double Solidarity’s scale in Bahrain, projecting a combined annual gross written premium surpassing BD100 million. This transaction is poised to bolster Solidarity Bahrain's consolidated financial position through scale enhancement, operational efficiencies, and solidified market leadership, thereby supporting the company’s long-term growth and profitability.
Sectors
- Insurance
- Financial Services
Geography
- Bahrain – The transaction and impact are centered in Bahrain, with Solidarity and the acquired companies being based there.
Industry
- Insurance – The acquisition involves companies operating in the insurance sector, specifically general and life insurance.
- Financial Services – The transaction is significant within the broader context of financial services due to the strategic consolidation and market leadership aspects.
Financials
- BD100 million – The projected combined annual gross written premium after the acquisition.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Solidarity Group Holding | Bidding Company | Company | The major shareholder completing the acquisition. |
| Bahrain National Insurance Company (BNI) | Target Company | Company | Insurance company acquired by Solidarity. |
| Bahrain National Life Company (BNL) | Target Company | Company | Life insurance company acquired by Solidarity. |