Oman Insurance sells business in Turkey

Arab Post employees

Oman Insurance Company announced that it has completed the sale of its insurance operations in Turkey to VHV Reasürans, Istanbul/Turkey, a company of the VHV Group, Hannover/Germany.

The size of the financial transaction was not disclosed.

This transaction represents a continuation of Oman Insurance’s strategy of transformation and simplification in order to focus the company’s resources on specific markets and segments.

Jean-Louis Laurent Josi, CEO of Oman Insurance Company, commented at the time: “With this transaction, we reinforce our focus and commitment to serving our core markets. Since 2012, we have supported Dubai Sigorta by building strong underwriting and service capabilities, benefiting from Oman Insurance’s extensive product and brand depth. As the VHV Group is one of the most important and leading insurers in the construction sector in Germany, I am also excited that after this transaction both our companies will cooperate in the future to insure specific risks together both in Turkey and the UAE. I would also like to congratulate all Dubai Sigorta employees for what they have achieved and thank them for their hard work and dedication over the years.”

Also published on Medium.

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